Business
The National Australia Bank is setting aside $314 million for customer remediation programs, becoming the latest big bank to take a big profit hit due to compensation.
News
A refreshed banking industry code aims to stop banks charging fees to dead people and ensure they only extract fees from customers in exchange for services actually provided.
Get InDaily in your inbox. Daily. The best local news sent straight to your inbox every workday at lunchtime.
Thanks for signing up to the InDaily newsletter.
A global law firm is investigating a possible class action against financial services giant AMP, which has admitted to cheating customers and lying to the corporate regulator.
Westpac chairman Lindsay Maxsted says criticism of the Australian banking sector is “warranted” but hopes a royal commission into alleged misconduct will restore trust and confidence.
UPDATE | Prime Minister Malcolm Turnbull has bowed to growing internal pressure by setting up a year-long royal commission into the misconduct of Australia’s financial sector.
National Australia Bank has lifted full-year cash profit 2.5 per cent to $6.642 billion and will cut 4,000 jobs over the next three years as part of a $1.5 billion restructure.
Get InDaily in your inbox. Daily. The best local news sent straight to your inbox every workday at lunchtime.
Thanks for signing up to the InDaily newsletter.
