News

There are just 3,170 deferred mortgages remaining with Australia’s largest lenders. Banks say the worst is now over.

The Australian economy appears to have undergone an “impressive recovery” after hundreds of thousands of loan deferrals were finalised. New figures released by the Australian Banking Association (ABA) shows less than 5,000 loan deferrals remain outstanding across Australian businesses and households. With the figures timestamped to before the end of […]
There are just 3,170 deferred mortgages remaining with Australia’s largest lenders. Banks say the worst is now over.
News

5 charts show just how badly Latino and Black communities have been impacted by the economic fallout from the coronavirus

The coronavirus pandemic is not impacting Americans equally. Hispanic/Latino and Black Americans are feeling the economic consequences significantly more than white Americans, per a new survey conducted by the Harris Poll on behalf of the American Staffing Association. For example, 65% of Hispanic/Latino respondents are worried about making their mortgage/rent […]
5 charts show just how badly Latino and Black communities have been impacted by the economic fallout from the coronavirus
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
Makes Cents

The Australian government has announced it will wind back responsible lending laws, making it easier to access credit

The federal government is loosening credit restrictions in an attempt to encourage lending. On Friday Treasurer Josh Frydenberg announced the responsible lending laws would be would back, having become “an overly prescriptive, complex, costly, one-size-fits-all regime”. There is some anxiety over the consequences of encouraging greater lending during a recession. […]
The Australian government has announced it will wind back responsible lending laws, making it easier to access credit