Australian Car Finance News

Financial crisis 'a bonanza' for big banks - Mar 08, 2010
The Australia Institute has picked the week of another increase in mortgage rates to launch what it claims to be a comprehensive history of the price gouging habits of the big four banks...

Rates hike: it's all uphill from here - Mar 03, 2010
The Reserve Bank has signalled more interest rate rises are on the way after it yesterday lifted the cash rate to 4 per cent...

Financial reforms off target - Feb 26, 2010
Several industry commentators have expressed concerns in recent days that the financial reforms around the world will fail to deal with the real problems that led to the financial crisis and consequent corporate collapses...

Rate rise clues awaited in business investment data - Feb 22, 2010
Key data on business investment due this week will give home owners more clues about the prospect of another interest rate rise in March...

Many Aussies 'financially unfit': survey - Feb 16, 2010
Almost a third of Australian women and a quarter of men are classed as financially unfit, despite improvements in the economy, a survey shows...

Banks in for one last slice of guarantee - Feb 15, 2010
LAST week's decision by the federal government to put a deadline on the removal of the wholesale funding guarantee as expected sparked a rush of issues by smaller lenders...

ACCC concerned about NAB bid for AXA - Feb 15, 2010
The Australian Competition and Consumer Commission (ACCC) has indicated it has greater concerns about the National Australia Bank’s (NAB’s) acquisition of AXA Asia Pacific than it did about the bid by AMP Limited...

Separation anxiety - Feb 10, 2010
The GFC has made a big impact on couples thinking about divorce

The global financial crisis may be responsible for saving a few marriages - for the time being...

Fee gouging by big banks - Feb 09, 2010
Banking with Australia’s big four banks is not a cost-effective exercise for many Australians and they could save themselves a significant amount by going elsewhere, according to new research released by InfoChoice...

Banks warned of rate 'wrath' - Feb 08, 2010
THE nation's banks have been warned they will face the ''wrath of the Australian government'' if they push up mortgage rates in the face of a decision announced yesterday to stop guaranteeing their overseas borrowings...

Rates hold-up robs banks of best-laid plans - Feb 03, 2010
THE Reserve Bank's decision to hold the official cash rate has placed the big banks in something of a dilemma...

Mortgage brokers face own industry evolution - Feb 02, 2010
Mortgage brokers have been going through an evolutionary period since the new National Credit Protection Legislation came into effect on January 1, and the challenges they face resonate with the financial planning sector...

Banks set out stalls to woo small business - Feb 01, 2010
A new battlefront has broken out between Australia's major banks to attract and hold small to medium businesses which continue to reel from the global financial crisis...

Home loans keep driving credit rise - Feb 01, 2010
Loans to the private sector grew by 0.3 per cent in December, but business borrowing continued to fall...

Choice study names unfair credit card companies - Jan 25, 2010
Hidden details about the interest charged on partly-paid or overdue credit card balances is unfairly costing customers, consumer advocate group Choice says...

The dark side of credit - Jan 21, 2010
In this post-Christmas period, many people will be worried about their debts and some - including businesses - may already be under pressure from debt collectors...

Shareholders lose, banks win in new law - Jan 20, 2010
In a big win for the banks, the Federal Government will draft laws to reverse the effect of a High Court decision that protected the rights of shareholders in the event of a corporate collapse...

Business lending bounce an 'encouraging sign' - Jan 19, 2010
Economists say there are good grounds for anticipating a sustainable economic recovery, after a jump in business borrowing...

Over-regulation could 'kill banking' - Dec 21, 2009
A respected economic scholar is warning that some plans to regulate banks in the wake of the credit crash would kill lending and be disastrous...

Small businesses want action on finance woes - Dec 21, 2009
While Treasurer Wayne Swan has been critical of Westpac for gouging mortgage customers, small businesses say the Government has been silent on their treatment...

AMP and NAB go head-to-head - Dec 21, 2009
AMP will seek talks with France's AXA SA to gauge its commitment to an agreement that locks the two in as partners for an attempted move on AXA Asia Pacific, even after the pair were trumped last week by National Australia Bank...

RAMS group butts heads with bankers in court - Dec 16, 2009
THE listed vehicle holding old RAMS home loans, RHG, is fighting a court ruling to pay a German lender $10 million, while facing a separate court action from the same lender alleging a default on $300 million in notes...

RBA board buys room to move - Dec 16, 2009
It was a close call. In central bank-speak, a "finely balanced" decision. The minutes of the Reserve Bank's December board meeting suggest there was a serious debate about whether to increase the cash rate - for a record third consecutive month - or to hold off to February...

Liquidity rule will force rate hike: CBA - Dec 16, 2009
Commonwealth Bank of Australia (CBA) has warned that it may increase interest rates because of additional costs associated with proposed rules that require a greater proportion of liquid assets to be held on bank balance sheets...

Lessons from the GFC - Dec 15, 2009
The public's trust in the financial service industry has been severely dented as a result of the ravages of the global financial crisis and the greed of sections of the financial services industry...

Time for some fancy footwork - Nov 30, 2009
Credit card providers have special tactics to extract maximum profits from consumers. Lesley Parker exposes their methods...

PayPal enters enforceable undertaking - Nov 24, 2009
The Australian Transaction reports and Analysis Centre (AUSTRAC) has imposed one of its first enforceable undertakings related to obligations under Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws...

Debt servicing gets harder at Christmas - Nov 23, 2009
Paying off debt is likely to be harder over the Christmas season and beyond as house prices rise and higher interest rates begin to bite, analysts warn...

AMP-AXA could challenge major banks: Dunn - Nov 18, 2009
AMP is looking towards its proposed, and so far rebuffed, takeover of AXA Asia Pacific to help it become a "fifth pillar" and challenge the big four banks...

Small firms find loans harder to get - Nov 09, 2009
The major banks' reluctance to lend to small- and mid-sized firms has the potential to stunt the economy's recovery and leave unemployment levels high, companies say...

Westpac to introduce 'green loans' - Nov 09, 2009
Westpac Banking Corporation is set to introduce interest free "green loans" worth up to $10,000.

The company on Sunday said the loans support the Australian Government Green Loans Program and will give homeowners an opportunity to improve their energy and water use efficiency...

Time for some fancy footwork - Nov 04, 2009
Credit card providers have special tactics to extract maximum profits from consumers. Lesley Parker exposes their methods...

The banks that 'saved' the economy are now strangling it - Oct 22, 2009
IT SEEMS ironic that Australia's banks, lauded for their conservatism and performance during the upheavals in global financial markets over the past year, might now be the ones that are putting a lid on economic recovery...

Market bets on rates threepeat - Oct 19, 2009
FINANCIAL markets are betting the Reserve Bank will raise interest rates at each of its next three meetings, with the key interbank rate that tracks the cost of short-term borrowing jumping to an eight-month high...

Personal loans top $7 billion in August - Oct 13, 2009
Monthly demand for personal loans other than mortgages topped the $7 billion mark for the first time in 18 months in a further sign of growing confidence in the economy...

Caution urged on tax deferrals - Oct 13, 2009
Businesses thinking about taking up the Australian Taxation Office's (ATO's) offer to defer tax payments could be compounding their financial difficulties, a finance broker has warned...

Economy receives borrowing boost - Oct 13, 2009
The latest personal and business lending figures add further weight to the argument that Australia's economy is rapidly heading back to business as normal...

Talks stall on $6b credit union merger - Oct 06, 2009
MERGER talks between two of the nation's biggest credit unions have broken down, setting back efforts to create a $6 billion competitor for the nation's biggest commercial banks...

Gen Y faces credit hurdles - Oct 05, 2009
The circumstances confronting young adults in their 20s as they start to build their careers are very different from just two years ago...

Key amendments to Consumer Credit Code - Sep 21, 2009
The Federal Government has agreed to defer the start of the National Consumer Credit Code for six months to give the credit industry more time to adjust to the new regime...

Senate requests more bank competition, regulation - Sep 21, 2009
A Senate committee has recommended more transparency and reporting about bank mergers and the state of competition in the banking sector...

Australians crunching credit card debt - Sep 21, 2009
Reserve Bank statistics show credit cards are being paid off at the fastest rate on record.

The figures show the average credit card balance stood at $3,100 in July...

Judge finds car loan funds moved in 'fraudulent' flow - Sep 16, 2009
RECEIVERS acting for Adelaide Bank, which is chasing $20 million that a court was told had been siphoned from a Melbourne car loans financier, have won a judgment for more than $2...

Reserve questions Swan's stimulus story - Sep 16, 2009
THE Reserve Bank has challenged Wayne Swan's account of the success of his economic stimulus measures, with several board members declaring that it is hard to know how much credit belongs to them and how much to its own cuts in interest rates and the economic resurgence of China...

Banks reluctant to lend, despite falling costs - Sep 15, 2009
The central banks' central bank says borrowing costs for financial institutions have fallen, but that will not necessarily mean lower interest rates for consumers...

Aussie dollar may drop in value in coming months - Sep 09, 2009
The Australian dollar may drop in value in the coming months as its volatility range against foreign currencies continues to subside, according to research by OzForex...

Sales targets see customers in more debt than they can handle - Sep 08, 2009
Members of the Finance Sector Union (FSU) say the pressure to meet sales targets has them obliged to sell finance products to customers beyond the level of debt they can handle...

Dollar hits 13-year high against pound - Sep 08, 2009
The Australian dollar has surged to a 13-year high against Britain's pound, as currency traders bet on the likelihood of an imminent rate rise by the Reserve Bank...

Banks' funding guarantee on way out - Sep 07, 2009
THE use of the government guarantee to underwrite debt raisings by domestic banks and financial institutions in Australian credit markets is fading as credit spreads improve and investor confidence returns...

Banks in a balancing act - Sep 02, 2009
While most of Australia was happy to see the Reserve Bank governor, Glenn Stevens, leave interest rates on hold yesterday, the decision will raise the level of angst being felt by Australian banks that are desperate for a rate rise to give them the cover they need to increase their own lending rates...

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