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New consumer laws good for lenders
Tuesday June 30
Lenders are breathing a sigh of relief after learning last week that they will have until January 2011 to meet the responsible lending provisions under new national consumer credit law.
Responsible Lending? Not yet.
Friday June 26
Banks and Credit Unions welcomed the federal government's announcement that responsible lending provisions of the new consumer credit laws will not come into force until January 2011.
Think your debt is under control?
Wednesday June 24
While average credit card balances are falling as repayments go up, consumer advocates are criticising banks for ramping up their card marketing.
Aussies pay off the card
Monday June 22
The average credit card balance went down in April for the first time in at least 14 years. Data released yesterday by the Reserve Bank showed that on average, Australian owed $3,080 on their credit cards, down $37 on the figures from a year earlier.
Debit growing, credit still king
Monday June 22
Australians are continuing to choose debit cards over credit. The rate of growth of debit transactions has continued over the last year, while the number of credit transactions as a proportion of the total card spend continued to fall.
Back to our old ATM habits
Monday June 22
Users of automatic teller machines are already starting to drift back to old habits after only the second month of better publicised and slightly changed pricing.
RBA says banks are setting rates
Monday June 22
The Reserve Bank of Australia says it is losing the ability to set interest rates. An RBA report issued yesterday says rising funding costs has eroded the significance of the official interest rate.
Banks to tighten up lending
Monday June 22
Banks will need to raise interest rates or tighten up on loan approvals in the next year because of ongoing shortage of funding say bank chiefs.
Banks need more savings
Friday June 19
Australians need to save more in order to ensure the ongoing strength of our big banks say bank chiefs. Cameron Clyne, chief executive of National Australia Bank says "Domestic demand for credit significantly exceeds our capacity to save."
Virgin Money to rise again
Friday June 19
Virgin Money Australia will be resurrected as a financial brand by Citibank. The bank will provide IT and staffing to the brand to launch a new credit card and online savings account in 2010.
Tuesday June 30
Lenders are breathing a sigh of relief after learning last week that they will have until January 2011 to meet the responsible lending provisions under new national consumer credit law.
Responsible Lending? Not yet.
Friday June 26
Banks and Credit Unions welcomed the federal government's announcement that responsible lending provisions of the new consumer credit laws will not come into force until January 2011.
Think your debt is under control?
Wednesday June 24
While average credit card balances are falling as repayments go up, consumer advocates are criticising banks for ramping up their card marketing.
Aussies pay off the card
Monday June 22
The average credit card balance went down in April for the first time in at least 14 years. Data released yesterday by the Reserve Bank showed that on average, Australian owed $3,080 on their credit cards, down $37 on the figures from a year earlier.
Debit growing, credit still king
Monday June 22
Australians are continuing to choose debit cards over credit. The rate of growth of debit transactions has continued over the last year, while the number of credit transactions as a proportion of the total card spend continued to fall.
Back to our old ATM habits
Monday June 22
Users of automatic teller machines are already starting to drift back to old habits after only the second month of better publicised and slightly changed pricing.
RBA says banks are setting rates
Monday June 22
The Reserve Bank of Australia says it is losing the ability to set interest rates. An RBA report issued yesterday says rising funding costs has eroded the significance of the official interest rate.
Banks to tighten up lending
Monday June 22
Banks will need to raise interest rates or tighten up on loan approvals in the next year because of ongoing shortage of funding say bank chiefs.
Banks need more savings
Friday June 19
Australians need to save more in order to ensure the ongoing strength of our big banks say bank chiefs. Cameron Clyne, chief executive of National Australia Bank says "Domestic demand for credit significantly exceeds our capacity to save."
Virgin Money to rise again
Friday June 19
Virgin Money Australia will be resurrected as a financial brand by Citibank. The bank will provide IT and staffing to the brand to launch a new credit card and online savings account in 2010.
| Other News |
- Bank complaints may end up in court Monday June 15, 10:35 PM
- Zero rate balance transfer traps Monday June 15, 10:35 PM
- Mum and Dad are keeping their cash Thursday June 11, 10:35 PM
- Budgeting? Try a bucket instead Thursday June 11, 10:35 PM
- SMS scams: Txt me ur bank a/c Thursday June 11, 10:35 PM
- Debt is good for you but... Wednesday June 10, 10:35 PM
- Min card repayments rip off Wednesday June 10, 10:35 PM
- Gen Y hit by financial crisis Wednesday June 10, 10:35 PM
- VIDEO: InfoChoice weekly wrap-up - June 5th, 2009 Tuesday June 9, 10:35 PM
- Don't harass me, Iâm in debt Tuesday June 9, 10:35 PM
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