Markets

‘Disaster written all over it’: Watering down lending laws will see banks trample customers for profit, consumer advocates warn

Consumer advocates have sounded the alarm over the Morrison government’s planned changes to wind back responsible lending laws. Some slammed it as “a short-sighted fix”, putting individuals at risk of becoming over-leveraged in a “flailing economy”. Others questioned whether the government had not learnt the lessons of the Hayne Royal […]
‘Disaster written all over it’: Watering down lending laws will see banks trample customers for profit, consumer advocates warn
Markets

Banks are changing their code of practice to ensure the dead aren’t charged fees

Banks announced changes to their code of practice, outlawing charging fees for no service. The banks will also seek legislation to end grandfathered payments and trailing commissions for financial advisers. The industry’s Banking Code of Practice was completely rewritten only in July this year. Australia’s banks are making further changes […]
Banks are changing their code of practice to ensure the dead aren’t charged fees
Markets

Shares in aged care operators are getting crushed

Shares in aged care operators took a steep dive following the announcement of a royal commission into the industry. A short time ago, Japara was down 15.8% to $1.41, Regis 14% to $3.11, and Estia 15.6% to $2.49. Prime Minister Scott Morrison at the weekend announced a royal commission to […]
Shares in aged care operators are getting crushed