Clancy Yeates

Clancy Yeates

Clancy Yeates reports on banking and finance and is a former Canberra business correspondent.

CBA executive running compensation scheme moves to new role

Clancy Yeates The Commonwealth Bank has appointed a new head of its compensation scheme for customers who received dodgy financial advice, a program it expects to continue running for another year.

Fintechs too keen on banks' 'bits and pieces', says ANZ tech chief

ANZ Bank's technology chief says there is an opportunity for start-ups to target big events, like buying a house, rather than specific products.

Clancy Yeates ANZ's technology chief says start-ups trying to challenge banks are too often focused on pinching small pieces of business.

PayPal shoppers will be able to pay via Eftpos

Clancy Yeates Shoppers using PayPal are set to be able to make real-time payments via Eftpos as the local pioneer of electronic payments pushes into online transactions.

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CBA to pay out $80 million in refunds to customers

Commonwealth Bank is the country's most profitable.

Clancy Yeates CBA, the country's most profitable bank, will refund $80 million to customers for not honouring discounts, the third bank this year paying back money for its mistakes.

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FoFA changes a boon for planners

Assistant Treasurer Kelly O'Dwyer.

Sarah Danckert and Clancy Yeates Financial planners will be allowed to charge clients fees for two months after their contracts have expired.

APRA data shows bank curbs weigh on property investor lending

Loans to property investors made up 34.9 per cent of new lending approved in the quarter, which was the lowest share in two years.

Clancy Yeates Australian Prudential Regulation Authority data on Tuesday showed the value of loan approvals for property investors fell to $32.39 billion in the three months to September 30

Banks eye mortgage growth with fixed-rate cuts

Several banks have recently cut three-year fixed mortgage rates.

Clancy Yeates Banks are competing for new home loan customers by cutting key fixed interest rates, new figures show.

HBOS took 'high inherent risks' in Australia in dash for growth, says Bank of England

Clancy Yeates The Bank of England has slammed former Bankwest owner HBOS's willingness to undertake risky transactions in Australia in the lead-up to the GFC.

JPMorgan rapped by ASIC for 'significant and repeated' compliance failures

JPMorgan has entered into an enforceable undertaking over problems with its disclosure of a licence exemption.

Clancy Yeates Three different arms of JPMorgan have entered into an enforceable undertaking with the corporate watchdog after repeated failures to comply with conditions of a license exemption.

How the Christmas credit card bill is becoming less shocking

December is almost always the biggest month for credit card spending.

Clancy Yeates Over the next month or so, shoppers will binge on credit cards like at no other time of the year. But it's not as sharp a jump in card spending as it used to be.

Bank of Queensland won't be a big four 'mini me'

Bank of Queensland will focus on priority industries within business banking.

Clancy Yeates Bank of Queensland will focus on lending in priority industries such as health care, hospitality, and professional services, as it tries to lift profitability faster than its rivals.

CBA wants to be 'the ethical bank'

CBA views ethics as a source of

Clancy Yeates Facing growing competition from rivals that have received a leg-up from policy changes, the Commonwealth Bank hopes its ethics can help stand it apart from other banks.

Commonwealth Bank optimistic on economy, cites lower $A

Commonwealth Bank is the country's most profitable bank.

Clancy Yeates CBA chairman David Turner says the lender remains optimistic about the economy's long-term prospects, citing a recent surge in employment and stronger business and consumer confidence

NAB chief Andrew Thorburn paid $5.48 million as executive pay jumps

NAB's Andrew Thorburn took home $5.48 million in pay in the last financial year.

Clancy Yeates NAB's top executives received pay rises as the bank offloads poor-performing units. CEO Andrew Thorburn took home $5.48 million.

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National Australia Bank signals stronger business loan demand

NAB has experienced stronger demand for business loans in recent months.

Clancy Yeates The head of NAB's business bank, Angela Mentis, says more NAB business customers are taking a brighter view on the economy.

Commonwealth Bank wants to boost green energy loans – and favours a carbon price

CBA's Kelly Bayer Rosmarin says the bank would support a price on carbon in the 'medium term'.

Clancy Yeates CBA says it has "unlimited" appetite for lending to renewable energy businesses.

Macquarie targets robo-advice at mass market

Clancy Yeates Macquarie's new robo-adviser promises to tell investors how to invest as the bank would do if it were in your shoes.

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Westpac's Gail Kelly gets $11.8m in final year

Former Westpac chief executive Gail Kelly's pay was boosted by performance shares vesting this year.

Clancy Yeates Former Westpac chief Gail Kelly received $11.76 million for her last four months heading the country's second-biggest bank.

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Westpac to ramp up mortgage growth

Westpac's George Frazis is eyeing a bigger slice of the mortgage market.

Clancy Yeates The head of Westpac's flagship consumer bank, George Frazis, has laid out plans for significant growth in both home loans and transaction accounts.

Bank returns not a 'constant of the universe': RBA's Glenn Stevens

RBA governor Glenn Stevens says the

Clancy Yeates, James Eyers and Jonathan Shapiro Reserve Bank governor Glenn Stevens has signalled bank investors may face a future of lower returns.