Business
Banking & finance
Cbus board appointments prompts tough talk from APRA
The regulator has raised doubts over whether Cbus has completed the necessary processes under its licence conditions, after the fund said three CFMEU-linked directors had passed a fit and proper persons test and would be appointed to its board.
- by Sumeyya Ilanbey
Latest
ASIC sues NAB for ‘failing’ customers facing financial hardship
The corporate regulator cited submissions from people who had left violent relationships or who had lost work during the pandemic.
- by Sumeyya Ilanbey
Can ANZ’s $2.5 billion tech bet close the gap on rivals?
Maile Carnegie is trying to transform the bank’s technology, and oversee the movement of millions of customers to a new platform. It’s a mammoth undertaking.
- by Sumeyya Ilanbey
Opinion
Superannuation
Cbus scandal revives ghosts of banking royal commission
The allegations against one of the country’s biggest superannuation funds is politically explosive and hugely embarrassing for one of the so-called gamekeepers of governance.
- by Elizabeth Knight
Super giant apologises for ‘unacceptable’ insurance delays
Appearing before a Senate inquiry on Thursday morning, Cbus chief executive Kristian Fok was grilled on a litany of scandals engulfing the embattled fund.
- by Sumeyya Ilanbey
Super funds warned over delays in assessing life insurance claims
ASIC believes the scale of alleged failings at $94-billion super fund Cbus are a broader industry issue, and it’s flagged there could be more “enforcement action to follow”.
- by Sumeyya Ilanbey and Clancy Yeates
Opinion
Interest rates
Emptying the cookie jar to pay interest: Borrowers are desperate for rates to fall
There are plenty of white-knuckled borrowers waiting for February in hopes the Reserve Bank will begin down the path of lowering rates. Can they make it that far?
- by Elizabeth Knight
Updated
Earnings season
Trump’s tariff plan to fuel global inflation, could keep rates high: CBA boss
Commonwealth Bank chief executive Matt Comyn said Australia’s economy is being weighed down by elevated interest rates and sticky inflation.
- by Sumeyya Ilanbey
Relax lending rules to boost mortgage competition: Bendigo CEO
Bendigo’s new chief says rules that require banks to test if a customer could handle a 3 percentage point interest rate rise are “not good for competition”.
- by Sumeyya Ilanbey
Corporate regulator sues Cbus over unresolved insurance claims
The corporate regulator is taking the embattled construction superannuation fund to court for not processing death and disability insurance claims in a timely manner, costing its members about $20 million.
- by Sumeyya Ilanbey
Afterpay billionaires say Australia is well on its way to a cashless future
Nick Molnar and Anthony Eisen built an empire by detecting and responding to major shifts in financial behaviour. So their views on the immediate future carry weight.
- by Clancy Yeates
Original URL: https://www.watoday.com.au/business/banking-and-finance