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Banking royal commission

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A few bank scalps won't help unless they change their rotten culture
Opinion
Opinion

A few bank scalps won't help unless they change their rotten culture

There's not much in the Hayne royal commission’s recommendations that directly addresses the central weakness of the banking system: the culture.

  • by John Hewson

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NAB chief Andrew Thorburn to get $1m farewell as he heads for the exit
Updated
National Australia Bank

NAB chief Andrew Thorburn to get $1m farewell as he heads for the exit

The outgoing CEO will receive a $1 million exit payment plus leave entitlements, but forfeits the rights to up to $22 million in potential future share awards..

  • by Clancy Yeates
ANZ drops some fees in response to scathing banking royal commission
ANZ Bank

ANZ drops some fees in response to scathing banking royal commission

The bank said it would make 16 changes to its business, including dropping some fees on drought-hit farmers, in response to recommendations of the banking royal commission.

  • by Tom Westbrook
ASIC reveals 41 investigations out of banking royal commission
Federal election

ASIC reveals 41 investigations out of banking royal commission

Corporate regulator says it has started 41 investigations out of the banking royal commission

  • by Shane Wright
Scandal-hit IOOF takes action after horror year
Banking royal commission

Scandal-hit IOOF takes action after horror year

Scandal-hit financial advice group IOOF Holdings is taking action to redeem itself with the financial regulator and investors as its two most senior executives remain sidelined awaiting court action.

  • by Stephen Miles
ANZ admits it was 'overly conservative' in home loans
ANZ Bank

ANZ admits it was 'overly conservative' in home loans

With its mortgage book shrinking, ANZ chief Shayne Elliott concedes the bank may have been too cautious in its home lending decisions.

  • by Clancy Yeates
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Westpac's $2b profit underscores advantages for 'big boy' banks
Westpac Banking Corporation

Westpac's $2b profit underscores advantages for 'big boy' banks

Westpac appears to be weathering weak conditions in retail banking better than smaller rivals, notching up $2.04 billion in cash earnings in the latest quarter.

  • by Clancy Yeates
Ipsos poll: Most voters prefer Labor to handle banks fallout but are split on Frydenberg and Bowen
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Federal election

Ipsos poll: Most voters prefer Labor to handle banks fallout but are split on Frydenberg and Bowen

Some 43 per cent do not support Labor's franking credits policy, while 40 per cent back the proposal.

  • by David Crowe
Consumer crunch: Banks set to crack down on credit cards, car loans

Consumer crunch: Banks set to crack down on credit cards, car loans

Banks may make it harder for consumers to get car loans, credit cards and personal loans under proposed rules from the corporate regulator.

  • by Clancy Yeates
Love lost at AMP, but can it be found?
AMP

Love lost at AMP, but can it be found?

AMP needs something special to swoon investors after warning its 2019 could be just as bad as 2018, but can its suave new boss win the market's heart?

  • by Sarah Danckert
Calm after the chaos: Can Chronican lead NAB out of its crisis?
Philip Chronican

Calm after the chaos: Can Chronican lead NAB out of its crisis?

Longtime banker Phil Chronican has been thrown into the spotlight as NAB's interim boss, and there's talk this no-nonsense exec could be hanging around.

  • by Clancy Yeates