Consumers are spending more on debit cards than credit cards for the first time, as shoppers shy away from racking up debts on plastic.
Clancy Yeates writes on business specialising in financial services. Clancy is based in our Sydney newsroom.
Key planks of the banking industry's reform plan, including a promise to name and shame bankers who break the rules, are taking longer to implement than expected.
Business chiefs are urging the next NSW premier to continue driving the state's infrastructure boom, crediting Mike Baird's support for big projects with helping to resurrect the state economy to a position of national leadership.
The most aggressive incentive schemes still being used by some banks to boost sales by staff are putting customers at risk of being sold inappropriate products, an industry-funded review has suggested.
Growth in new lending to housing investors has accelerated to its fastest annual pace since early 2015.
National Australia Bank has warned the cost of funding mortgages "absolutely remains elevated," as it and ANZ Bank hiked interest rates on fixed interest rate home loans.
Two major banks have hiked fixed interest rates on home loans, and a senior banker at National Australia Bank says funding costs that drive variable interest rates "absolutely remain elevated."
Chief executive pay has become a powerful symbol of the widening gap between the winners and losers created by globalisation, and boards must put more focus on justifying the bonuses they pay executives amid a backlash against free-market policies.
Xero's model for small business customers and banks sharing data could be applied in consumer banking, the software company says.
ING Direct has poached Westpac rising banker Melanie Evans to spearhead the Dutch lender's plan to carve out a bigger share in the lucrative Australian retail banking market.