Today
CBA’s Matt Comyn loses his right-hand man, the meticulous David Cohen
Over 15 years at the bank, David Cohen has seen it all. On his retirement, he provides a potted history of CBA’s numerous troubles and its transformation.
Yesterday
ACCC wants switching banks to be as easy as ditching mobile providers
Gina Cass-Gottlieb’s ACCC deposit inquiry calls for Australia to introduce an account switching service like the ones that operate in Britain and the Netherlands.
This Month
This billionaire started his company to avoid paying bank fees
Kristo Käärmann found a cheap way to send British pounds to his native Estonia. His solution now has 16 million global users.
ACCC lashes banks for ‘opaque’ pricing of savings products
The ACCC has called for banks to notify customers of changes to bonus savings rates to help them switch, in the final report of its retail deposits inquiry.
Westpac boss to fly to Tiwi Islands to discuss Santos project
After a four-hour AGM in Brisbane, Peter King has committed to visiting the Tiwi following concerns about consultation on Santos’ Barossa project.
Bullock says banks should bear more costs of moving banknotes
The RBA governor’s comments come amid negotiations with cash transport firm Armaguard, which has warned it needs an injection of funds to operate.
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The fate of ANZ and Suncorp deal is in the hands of these three people
The high-stakes legal battle over whether the $4.9 billion transaction should proceed is half done. And so far, it is unclear who’s on top.
Tata Indian boss says he’s ready to take ASX pressure on CHESS
Vivek Ramgopal says Tata will keep the ASX on track as it attempts to rebuild the market’s post-trade system for a second time and responds to criticisms.
ACCC lets banks enter emergency talks on the future of cash
The competition regulator granted the Australian Banking Association interim authorisation to hold meetings to consider Armaguard’s request for extra funding.
What AusPost needs to upgrade its banking services
Hot on the heels of Armaguard, Australia Post says it also needs more investment from banks to upgrade its regional outlets to provide cash where branches have left.
Bendigo says it can make ‘compelling’ offer for Suncorp Bank
The Australian Competition Tribunal’s hearing, starting on Monday, will reconsider the ACCC’s rejection of ANZ’s takeover of Suncorp Bank.
November
Armaguard boss laments cash rebound that never came
Mick Cronin says the decline of cash is steeper than it forecast two years ago when merger discussions begun, and “this is a permanent problem”.
CBA’s mortgage lending book returns to growth
The bank has arrested a shrinking mortgage book, which returned to growth in October as the bank refocused on winning new customers with digital offers.
Banks call for crisis talks as cash transport firm teeters
The banks want ACCC approval to negotiate with Armaguard, after its surprise request for a cash injection 5 months after the ACCC approved its monopoly merger.
CBA’s Yello rewards program takes leaf out of Afterpay’s playbook
The bank’s new rewards program, being used by 8 million users of its banking app, is driving new sales to a host of large retailers.
Plenti soars after striking deal with NAB for EV, solar loans
The bank will use Plenti’s technology to write co-branded, secured car loans, and send customers seeking renewable energy finance to the ASX-listed fintech.
BNPL laws delayed until new year amid legislative drafting constraints
Minister Stephen Jones said resourcing pressures would push back finalising a bill to bring Afterpay and Zip under the credit act until early next year.
Why banks spy on your petrol bills
Lenders look at whether you stop short of filling up the tank or start shopping at Aldi to work out whether the home loan is becoming a struggle.
ASIC ready to wield new power on ASX to force CHESS competition
The corporate regulator will move “very quickly” to make sure the new ASX clearing and settlement system allows in rivals.
ASX turns to Tata, passing over Nasdaq, to rescue CHESS
The sharemarket operator told investors the first part of the new system would be in place by 2026. Regulator ASIC is yet to be convinced.
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