Borrower beware: Ombudsman names and shames lender Prudent Capital
Prudent capital allegedly treated one of its small business clients unfairly, small business ombudsman Kate Carnell says.
Banks, superannuation firms to be named and shamed over complaints, ASIC rules
Big banks and superannuation firms will be named and shamed in complaints determinations, ASIC decided on Monday afternoon.
Royal commission reforms to “broken” banking code delayed as ombudsman urges scrutiny over get-out-of-jail clauses
It will be about 18 months before a royal commission banking code proposal is implemented after lobbyists pushed for a delay.
The new banking code looks impressive, but what does it mean for small businesses?
On July 1, the banking industry got yet another code of conduct, and although it is voluntary, all of the retail banks have signed up.
Concerns SMEs could miss out on royal commission compensation as AFCA receives expanded remit
AFCA's small business lead is encouraging business owners with complaints to give him a ring, while others call for the authorities remit to be expanded.
Free legal advice for small-business victims of banking misconduct under Labor election pitch
Small businesses will be able to access free legal advice to help them with claims against banks if Labor wins the next election.
Double the compo: Up to $2 million for business banking victims under Labor
Small-business banking victims could get more money and banks will foot a bigger bill under Labor's plan to trump the government on compo.
Keeping finance fair: AFCA’s new small biz ombudsman prepares for royal commission compensation claims
AFCA's new small business ombudsman is preparing for a busy first year as post-royal commission compo claims fly in to the new complaint body.
Hayne balks at calls for SME-lending reform and deputises ASIC as code cop
The banking royal commission has stopped short of advocating broad changes to SME lending, prompting criticism it has not gone far enough.
Financial complaints skyrocket: Hundreds of businesses spill the beans to new watchdog AFCA
In its first month of operation, AFCA has recorded a 47% increase in complaints, with 460 small businesses spilling the beans on their banking and financial services grievances.
“Life or death for small business”: Financial complaints authority to appoint dedicated ombudsman for SMEs
The newly established Australian Financial Complaints Authority is bringing on a small business ombudsman to look after the small end of town.
Small businesses could receive $1 million in compensation for financial disputes as AFCA opens its doors
Small business owners will now be able to pursue financial complaints through the Australian Financial Complaints Authority (AFCA).
