July
ACCC wants banks to make foreign exchange calculators more accurate
The regulator has proposed changes to FX calculators to ensure banks subtract fees, so customers have genuine transparency.
- James Eyers
The top 10 deals where bankers won big fees in the past year
The country’s largest investment banks shared in an estimated $600 million payday – from capital raisings to IPOs in everything from NextDC to the ailing Star.
- Aaron Weinman
Banks caught repeating royal commissioner-era fee charging
ANZ, the Commonwealth Bank, Westpac and Bendigo and Adelaide Bank have agreed to move 200,000 customers into lower-fee accounts.
- Ronald Mizen
April
CBA joins banks quietly cutting interest-free days on credit cards
The big banks have all been slowly lifting their rates, while Commonwealth and Westpac have also increased annual fees.
- James Eyers
October 2023
‘What the eff?’: Jack Zhang on Airwallex’s near-death experience
A close call with Silicon Valley Bank could have wiped out half a billion of capital. The swiftness of Airwallex’s response demonstrates why it’s a company to watch.
- Michael Bailey
September 2023
PayPal targeted by ASIC for contract clause letting it keep wrong fees
The corporate regulator sued PayPal in the Federal Court alleging an unfair clause that let it hold on to overcharged fees if errors weren’t notified to it.
- James Eyers
November 2022
NAB ‘took advantage of customers’ by overcharging them: judge
The Federal Court found NAB acted unconscionably, and breached a licence condition, when it levied fees that have resulted in $8m being paid in compensation.
- James Eyers
April 2022
Westpac fined $113m after charging fees to deceased clients
Westpac has been hit with $113 million in penalties and will issue $80 million in remediation after it was found to have made widespread compliance failures.
- Lucy Dean
February 2022
Regulatory pressure, customer unbundling force ANZ to cut mortgage fee
After Breakfree was targeted at the royal commission and ASIC, ANZ has killed the controversial product.
- James Eyers
July 2021
Millions wasted, reputations damaged
Three years after the royal commission explored the fees-for-no-service scandal, ASIC has dropped the criminal probe into AMP on advice from the DPP.
- Updated
- James Frost
No late fees as PayPal’s turf war with Afterpay begins
The US juggernaut is taking on the local buy now, pay later leaders, undercutting them with lower merchant prices and removing the penalties customers hate.
- James Eyers
February 2021
ASIC takes NAB to court over account fees
The corporate regulator alleges the bank charged more than $365,000 in fees to which it wasn’t entitled.
- Updated
- Max Mason
February 2020
NAB to get secret interrogation tapes
ASIC has been ordered to share transcripts of compulsory interviews conducted in secret with NAB staff members ahead of its fees-for-no-service trial.
- James Frost
September 2019
Banks warned on foreign exchange fees
ACCC chairman Rod Sims said forex fees are another example of banking consumers paying more for their loyalty.
- James Eyers
July 2019
- Exclusive
- National Australia Bank
Serial pest hijacks ASIC case
ASIC's landmark case against NAB over the fees for no service scandal is at risk of being delayed by a crusader for the rights of beneficiaries.
- James Frost
April 2019
Suncorp slashes fixed rates to 3.49pc
The lender has topped recent cuts by rivals CBA and Westpac in an escalating mortgage price war by cutting rates 45 basis points.
- Duncan Hughes
CBA targets international travellers with new tech
Users of the bank's app who visit international airports will be warned on how to avoid excess charges while travelling.
- James Frost
