NAB inquiry attack falls flat
NAB concedes it had no lawful entitlement to seize the proceeds of a sold home to repay the owner’s business debts.
Bank Inquiry
CBA admits misconduct failures
CBA’s chief risk officer concedes the bank’s risk management is not up to scratch, and it did not properly log misconduct.
Pub sale demand ‘not surprising’
Bankwest pressure to sell a pub despite a clean payment history wasn’t surprising, CBA’s chief risk officer has told the inquiry.
Hayne heading for the country?
Inquiry hearings into agricultural lending may widen to probe banks’ dealings with indigenous communities.
AMP action funding under wraps
Shine Lawyers has refused to detail funding arrangements for its class action suit against AMP amid law firm bidding war.
Banking code in the balance
ASIC’s approval of the banking code of conduct depends on evidence at the royal commission, it has told Kenneth Hayne.
‘We were totally bankrupted’
A former pub baron has told the bank inquiry how receivers appointed by CBA ripped out $180,000 worth of chandeliers.
CBA’s Bankwest mess
In a highly anticipated appearance, CBA’s David Cohen detailed the disasters in Bankwest’s loan book.
Beware the cost of bank bashing
Wheeling out a blind pensioner was a new low for the royal commission’s theatrics.
One for the aficionados?
Expect to hear some gory details when CBA chief risk officer David Cohen faces banking royal commission lawyers.
Demand on widow ‘unreasonable’
The bank ombudsman says Suncorp should drop its demand a jobless widow repay $220,000 in six months to clear a loan.
Bank loan demand ‘too complex’
A Westpac chief didn’t understand legal documents used to demand customers put $100,000 into a term deposit.
AMP hit with third class action
Shine Lawyers has become the third firm to file a claim against AMP over revelations aired at the bank inquiry.
Suncorp ‘acted irresponsibly’
Suncorp chief of banking and wealth David Carter agrees the bank acted irresponsibly in approving loans.
AMP replaces sacked Salter
AMP has tapped David Cullen to replace Brian Salter as its top in-house lawyer as five class actions loom.
Advisers must fix trust: ASIC
Financial advisers have been urged to take the lead in repairing their industry’s battered reputation after bank inquiry shocks.
Sell, sell, sell: bonus culture rife
Westpac bankers still receive bonuses largely based on selling financial products, the royal commission has heard.
‘Consider prison for bankers’
Pauline Hanson wants the bank inquiry widened and says jail for executives guilty of misconduct “should be looked at”.
‘No sense’ to bank bonus scheme
ANZ executive admits a bonus scheme encouraging bank staff to “relentlessly” sell small business loans made little sense.
ATO repeating banks’ mistakes
Bank directors bear responsibility for the poor treatment of small business lenders and the ATO is following in their footsteps.
‘ANZ failed in duty of care’
ANZ executive admits the bank did not demonstrate the care and skill of a prudent banker in the case of a franchise loan.
False info in Westpac bank forms
It was common practice for Westpac bankers to fill out loan documents with false information, the royal commission has heard.
Pie franchise fights to earn crust
The way banks deal with the franchise industry has come under the spotlight of the financial services royal commission.
NAB ups pay for customer service
NAB has foreshadowed an overhaul of executive pay practices that will include incentives linked to the treatment of customers.
NAB to overhaul executive pay
NAB will tie the treatment of customers to executive bonuses as it looks to foster cultural change, says chair Ken Henry.
Loan ticked despite falsehoods
Westpac allowed a vulnerable woman to pledge her house despite her daughter’s loan application containing falsehoods.
Banking body to be suspended
The government is set to suspend the operation of the Financial Sector Advisory Council while the bank inquiry is underway.
More heartstrings than rationale
Easy to get outraged at banks after someone loses their home when they go guarantor for bad loan. But what’s the alternative?
‘Worst time of my life’
Marion Messih has told the banking inquiry how she is still in debt after taking out a loan through Westpac to open a Pie Face franchise.
A familiar face in the front row
Agri lending has put a royal commission road trip on the agenda, as a special guest turns up at the latest bank inquiry hearings.
Original URL: https://www.theaustralian.com.au/topics/bank-inquiry/page/18