The consumer watchdog wants the "four pillars" policy that prevents big bank mergers to be put under the microscope, saying there is an argument it insulates the banks from fierce competition.
Clancy Yeates writes on business specialising in financial services. Clancy is based in our Sydney newsroom.
Vending machines should be better able to cope with the new $10 notes going into circulation this week, after last year's teething problems with the upgraded $5 note, the Reserve Bank says.
The corporate regulator has launched a detailed review of the $50 billion credit card market, to assess whether banks are deliberately targeting interest-free deals at customers who are likely to end up paying much higher rates of interest.
One of the planned buyers of ANZ Bank's 20 per cent stake in Shanghai Rural Commercial Bank has been replaced by Chinese steel business Baoshan Iron & Steel, nine months after the initial deal was announced.
iPhones sold in Australia have been getting dearer over the past few years compared with other countries, CommSec's iPhone index shows.
The country's largest superannuation fund will stop automatically signing up younger members for insurance, in an industry-first attempt to slash costs from unnecessary cover.
Banks are wading back into the market for interest-only home loans, cutting fixed interest rates as the industry grows more comfortable with a regulatory cap on higher-risk lending.
The Reserve Bank of Australia will pay the federal government a $1.3 billion dividend, despite making a $900 million loss due to the stronger currency and the low-return environment.
Westpac-owned BT will pay $12 million to customers whose life insurance claims were knocked back, because some of these customers may not have have been aware of a clause that made them ineligible to claim.
The banking regulator says it launched an inquiry into the Commonwealth Bank's culture and governance as a "circuit breaker" that was needed to repair the bank's "badly damaged" reputation. CBA inquiry a 'circuit breaker' to repair damage: APRA