Mortgage Exit Fees Banned

Published on December 12, 2010 by Technology Slice

Mortgage Exit Fees Banned – Treasurer Wayne Swan will announce today plans to ban mortgage exit fees – blamed for dampening competition by making it prohibitively expensive for customers to switch to cheaper loans – from July 1 next year. The Sunday Age believes the much-anticipated banking competition package also includes a plan to give [...]

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Posted in Money

NAB Glitch Is Still Not Fixed

Published on November 27, 2010 by Technology Slice

NAB Glitch Is Still Not Fixed – NAB carried out remediation work overnight to complete payment and transaction processing from yesterday morning’s disruption, and these transactions have now been processed. But some payment processing originated yesterday had been delayed, including payments made to NAB customers and some payments from NAB to other banks’ customers. NAB [...]

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Posted in Money

Interest Rate Comparison Site Swamped

Published on November 23, 2010 by Technology Slice

Interest Rate Comparison Site Swamped – Financial comparison sites say they’ve noticed a significant jump in traffic to their sites in the last month, attributing it to the big four banks rising their interest rates by almost double that of the RBA. One financial comparison site said it had noticed an 80 per cent jump [...]

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Posted in Money

ANZ Profit Passes $5 Billion As Banks Cry Poor

Published on October 28, 2010 by Technology Slice

ANZ Profit Passes $5 Billion As Banks Cry Poor – ANZ chief executive Mike Smith said today that the Australian economy was running at multi-speeds, but was becoming ‘‘more normal’’. The bank expects corporate lending volumes to rise in the first half of fiscal 2011. Advertisement: Story continues below ‘‘Corporates can’t sit on cash… They [...]

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Posted in Money

Many Affected By The BP Oil Spill

Published on July 15, 2010 by Technology Slice

Many Affected By The BP Oil Spill – Financial institutions whose customers are affected by the BP PLC oil spill should try to expedite loans, ease credit terms and consider waiving late fees and penalties, U.S. banking regulators said Wednesday. The announcement, made by the Federal Reserve and all the other U.S. banking regulators, comes [...]

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Posted in World

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