Regulator needs stronger powers to deal with bank misconduct, Choice says

Detta inlägg post publicerades ursprungligen på denna sida this site ; News from, The guardian Consumer watchdog says it is clear AMP and Commonwealth Bank ‘feel no compulsion to abide by the law’ The corporate regulator should be given stronger powers, and the ability to impose larger penalties, to help it intervene more quickly when Läs mer…

Westpac advice cost couple dream retirement, banking royal commission hears

Detta inlägg post publicerades ursprungligen på denna sida this site ; News from, The guardian Bank admits advice was poor after customer reveals she and her husband were ‘led up the garden path’ and ended up losing their home • A recent history of Australia’s banking scandals Westpac admits a senior financial planner gave poor Läs mer…

Has your financial future been destroyed by a bank?

Detta inlägg post publicerades ursprungligen på denna sida this site ; News from, The guardian The banking and finance industry is admitting to shocking misconduct – we want to hear from people who have been affected The royal commission into banking and financial services has uncovered shocking misconduct by some of Australia’s largest companies. It Läs mer…

A recent history of Australia’s banking scandals

Detta inlägg post publicerades ursprungligen på denna sida this site ; News from, The guardian It was a long and chequered road to the banking royal commission and as public hearings continue the revelations just keep coming. Here, we’ve collated some of the more outrageous moments in the banking and financial sector in the nine Läs mer…

Banking royal commission: bonuses and profits must be looked at, MPs say

Detta inlägg post publicerades ursprungligen på denna sida this site ; News from, The guardian Senior Coalition figures signal commissioner will be granted extension if needed as Warren Entsch calls for banks to be penalised if ‘they have stolen from others’• Sign up to receive the top stories in Australia every day at noon Key Läs mer…

Commonwealth Bank charged fees to dead clients, royal commission hears

Detta inlägg post publicerades ursprungligen på denna sida this site ; News from, The guardian Some advisers charged the deceased for financial advice – in one case for a decade Commonwealth Bank’s financial advisers have charged dead clients for financial advice, in one case for more than a decade, in shocking evidence heard at the Läs mer…

Banking royal commission: CBA agrees it is the ‘gold medallist’ at fees for no service

Detta inlägg post publicerades ursprungligen på denna sida this site ; News from, The guardian Tony Abbott says hearings casting spotlight on ‘contemptible’ practices despite his earlier opposition • Sign up to receive the top stories in Australia every day at noon The Commonwealth Bank has admitted to being the worst financial services entity in Läs mer…

Banking royal commission: AMP executive says company put profits before the law

Detta inlägg post publicerades ursprungligen på denna sida this site ; News from, The guardian Anthony Regan admits he lost count of the number of times AMP misled the corporate regulator• Sign up to receive the top stories in Australia every day at noon AMP’s head of financial advice has admitted there are reasons to Läs mer…

Banking royal commission told 90% of financial advisers ignored clients’ best interests

Detta inlägg post publicerades ursprungligen på denna sida this site ; News from, The guardian Inquiry also told that just 35% of all financial advisers have a degree at bachelor level or above Australia’s corporate regulator has revealed 90% of financial advisers who provide advice to self-managed super funds have failed to comply with the Läs mer…