Australian Car Finance News

ANZ Extras - Jul 29, 2010
ANZ has introduced a transaction account with bonus interest rates on savings, insurance services and a number of non-banking benefits, such as restaurant discounts, all covered by an $18 monthly fee...

Branson's back for another crack at finance market - Jul 28, 2010
SEVEN years ago, Richard Branson flew into Australia, blondes on his arm, toothy grin on his face, idly promising to take on the big banks...

SME's miss out as banks favour housing - Jul 26, 2010
It's a major concern that lending to small-to-medium (SME) enterprises has shrunk, National Australia Bank Ltd (NAB) group executive of business banking Joseph Healy says...

FOS alternative emerges - Jul 26, 2010
A large but relatively unfamiliar external dispute resolution (EDR) scheme has emerged as a competitor to the Financial Ombudsman Service (FOS)...

Record profits say it all - Jul 23, 2010
Big banks like to deflect criticism from those who question their massive profits and fee-gouging ways by playing the ''bank bashing'' card...

NAB in British mortgage blunder - Jul 23, 2010
THOUSANDS of National Australia Bank's British customers have been hit with higher monthly payments after the bank miscalculated repayments for some variable and tracker-style mortgages...

Bank rules threaten growth, warns RBA - Jul 21, 2010
THE Reserve Bank has warned that tough global regulation planned for banks threatens to constrain the pace of economic growth by driving up borrowing costs for business and home owners...

Tier-two lenders still do it tough: GE Capital - Jul 19, 2010
SMALLER lenders still find it harder to obtain funding than do the big banks, says the tier-two money lender GE Capital...

Bias towards home lending hurts SMEs - Jul 19, 2010
The bias of the Australian banking system towards home lending could prove detrimental to the financial system and economy, according to the National Australia Bank's group executive for business banking, Joseph Healy...

Home bank becomes the one with best lending deal - Jul 14, 2010
THE financial crisis has reshaped the way Australia's biggest companies view their banks, with allegiances switching to those that have money to lend...

Banks to cool on rate rises until after poll - Jul 13, 2010
BANK executives are among those hoping for an early federal poll, with many lenders feeling the squeeze of rising funding costs but unwilling to raise mortgage rates during an election campaign...

Cutting credit is no easy snip - Jul 07, 2010
With credit card rates of more than 20 per cent becoming commonplace, people who accumulate credit balances on their card accounts are facing very high repayment costs...

Banks bond with cash as fears rise - Jul 06, 2010
AUSTRALIAN banks have been bracing themselves for funding headaches by pumping up their holdings of cash by a hefty $12...

ASIC begins rolling out credit licences - Jul 05, 2010
The Australian Securities and Investments Commission (ASIC) began issuing credit licences last week after a three-month registration process that saw almost 15,000 applications...

Funding, margins to squeeze bank profits - Jun 23, 2010
Australian banks' core earnings are set to decline as higher funding costs and weaker margins curtail their post-financial crisis earnings growth spurt, analysts say...

View deductions with care - Jun 21, 2010
We are a nation of landlords. The Australian Taxation Office shows 1.6 million people own a rental property...

ASIC warns of looming credit deadline - Jun 16, 2010
Registrations for credit licenses are about to hit 12,000 as financial services providers prepare for changes to the credit licensing regime...

RBA looks to put rates on hold - Jun 16, 2010
The Reserve Bank has indicated official interest rates could be kept on hold again late next month as it monitors Europe's debt situation and assesses Australia's inflation outlook...

How to get your own back - Jun 15, 2010
The federal government reckons introducing a standard tax deduction - $500 in 2012 and $1000 from the following year - will tempt many people to leave their claim at that and go with a tax return pre-filled by the Australian Taxation Office...

Bank workers 'worried about customers' - Jun 09, 2010
Bank workers are suffering high stress levels caused by the pressures of meeting sales targets and feeling unable to provide good customer service, a survey has found...

PIS links with CUA on bank product distribution - Jun 09, 2010
Professional Investment Holdings (PIH), the parent company of one of the country’s largest non-institutionally owned dealer groups, has confirmed it has partnered with Credit Union Australia (CUA) to distribute banking products...

Confused by credit rules? So is everyone else - Jun 08, 2010
Signing up for a home loan or credit card is a significant milestone for most Australians, but research has found many people are confused about how much it will cost...

Businesses now less satisfied with banks - Jun 02, 2010
Small to mid-sized business is again emerging as the key battleground for banks to build their lending book as the mortgage market cools...

Spend the inheritance: reverse mortgages to surge - Jun 02, 2010
A new report shows the reverse mortgage industry grew 9 per cent last year, mainly to fund retirees' living costs...

NAB facing $450m action on toxic debt disclosure - May 19, 2010
A law firm is set to file a $450 million class action against one of Australia's big banks for allegedly failing to disclose a massive debt early enough...

NAB repaying overcharged customers - May 17, 2010
The National Australia Bank has begun repaying the millions of dollars in fees it overcharged customers over seven years, but lawyers involved in the case say those errors are just the tip of the iceberg...

Credit card balances rise 6.4% over year - May 13, 2010
The value of credit card purchases rose by 12.2 per cent over the year to Marc, but balances owing rose only 6...

Banks take jolt over fee fears - May 13, 2010
BANK shares were pummelled yesterday amid investor concern that a landmark legal action against fees could hit profits...

Financial services industry welcomes Budget - May 12, 2010
The financial services industry has broadly welcomed the Federal Budget, particularly those elements going to providing tax relief on savings and the creation of Australia as a financial services hub for Asia...

Economists warn that more pain is on the way - May 05, 2010
ECONOMISTS are warning of still more interest rate pain after the Reserve Bank pushed up rates for the sixth time in eight months, lifting standard variable mortgage rates to near 7...

Rate rises tipped as resources boom - Apr 28, 2010
A new economic forecast has predicted a return to higher inflation and interest rates and expects the Australian economy to be largely supported by the resource-rich states...

Getting in over your head - Apr 27, 2010
The debt collection business is booming and, for consumers, that should be worrying. That a lot of people are struggling to pay their bills should not be surprising given Australian households are among the most indebted in the world...

Credit growth moderate despite consumer confidence - Apr 20, 2010
Australians are cautious about adding to their credit card debt despite consumer confidence remaining buoyant, economists say...

Aussies cautious about credit card debt - Apr 19, 2010
Australians are cautious about adding to their credit card debt despite consumer confidence remaining buoyant, economists say...

Non-bank lenders likely to return: RBA - Apr 14, 2010
Non-bank lenders are likely to return to the market as the economy improves but lending standards could become more relaxed, the central bank says...

Banks defend small business lending record amid defaults warning - Apr 14, 2010
The major banks have defended their record of lending to small businesses at a government hearing, saying it was still growing and that the interest rate differential over consumer lending was small...

Gap widens for mega rich - Apr 08, 2010
A 30-YEAR trend of rising inequality has continued with the rich boosting their share of Australian income significantly over the last five years, according to new research...

Business loans under review after interest hike - Apr 07, 2010
Westpac Banking Corporation joined its peers in placing interest rates on standard variable home loans and other products under review following the Reserve Bank of Australia’s decision to lift the official cash rate...

Mining bonanza fuelling rate rises - Apr 07, 2010
SOARING resource prices have emboldened the Reserve Bank to lift interest rates for the fifth time in seven months, making it clear there is no end in sight to further rate rises...

Business lending competition to pick up with recovery, RBA - Mar 30, 2010
Competition for small business lending is likely to pick up as the economy strengthens, the Reserve Bank of Australia has told a Senate inquiry...

Reserve Bank defends transparency on rates policy - Mar 30, 2010
The Governor of the Reserve Bank has shrugged off concerns about transparency regarding its interest rate decisions...

Macquarie returns to 'low doc' loans - Mar 22, 2010
INVESTOR appetite for low quality mortgage loans is returning, with Macquarie's securitisation arm privately arranging a bond containing $500 million worth of 'low doc' loans, the first such issuance since the financial crisis...

Business bears brunt of interest margin increase - Mar 15, 2010
A Reserve Bank report estimates the major banks have enjoyed a 20 to 25 basis point increase in interest margins during the financial crisis...

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...

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