Business

Clancy Yeates

Clancy Yeates writes on business specialising in financial services. Clancy is based in our Sydney newsroom.

ACCC chairman Rod Sims says  the impact of the "four pillars" policy on competition in banking deserves "serious thought".

ACCC wants 'four pillars' policy examined

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.

ASIC is examining how credit card balance transfers affect consumer indebtedness.

'Zero balance' credit card deals under ASIC microscope

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.

APRA chair Wayne Byres says the damage to Commonwealth Bank's reputation is "unhealthy for the country."

CBA needed probe as a 'circuit breaker': APRA chair

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