“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.
Nothing to see here: Banks oppose SME lending regulation crackdown
Despite allegations of fraud, strong-arming and abuses of power, Australia's big four banks say SME lending framework is broadly appropriate.
Were you affected? Businesses may be entitled to compo over Telstra eftpos outage
Telstra has apologised to businesses regarding an eftpos outage that affected operations late last week amid a broader discussion about payments resilience.
“Too many outs”: Ombudsman slams banking code for being weak on small business protections
The code covering SME lending requires a major overhaul to protect businesses from the power of the big banks, Australia's small business watchdog says.
You can’t bank on banks: Why a legally binding, industry-wide code of conduct is needed
We need to "enshrine Justice Hayne’s six commandments in every bank’s code of conduct and make any breach to that code criminal."
Australia’s digital wallet future: You can bank on the big four to stifle tech innovation
In other countries, digital wallets allow people to accomplish nearly all of their daily transactions with a single card.
Royal commission shows banks have behaved appallingly, but we’ve helped them do it
In his interim report, royal commissioner Kenneth Hayne pilloried select Australian banks for their greed and putting profits before customers.
“Like frightened turtles”: Why everyday borrowers will suffer most in banking royal commission aftermath
The people who will lose from the royal commission are the 'marginal' borrowers — the young, the less affluent, the less educated, the casually employed.
NAB and Amex banking customers targeted in slew of “well-designed” phishing scams
Aussie customers of American Express and NAB have been targeted in a slew of “well-designed” malicious phishing email attacks.
A twofold solution: The royal commission must consider both regulation and education
We can’t just rely on regulated disclosure. Better-educated people are better equipped to ask the right questions and make more informed decisions.
“A lay-down misere”: Calls to relieve super burden on SMEs as royal commission focuses on superannuation
Australia’s small business leaders say employers should be taken out of the superannuation process as the banking royal commission focuses on the $26 billion industry this week.
New banking Code of Practice levels SME playing field, but Ombudsman disappointed at $3 million loan threshold
A newly minted banking Code of Practice has been heralded as a win for small business in the aftermath of the banking royal commission.
