Monthly Archives: July 2016

Bank branches face commission review – Australian Broker

As read in Australian Broker an independent review of commissions and payments made to bank staff has been announced as an ASIC-led review of mortgage broker remuneration is currently underway. Former Australian Public Service Commissioner, Stephen Sedgwick AO, has been appointed to conduct the review, commissioned by the Australian Bankers’ Association (ABA), to determine if […]

Blind eye to foreign money could end badly for banks

As read in Mortgage Business A crackdown on lending to foreign buyers has seen a number of banks pull out of the space in recent months. However, the majors have been tight-lipped since reports of mortgage fraud hit the headlines. Speaking at an FBAA event in Sydney last month, industry veteran Steve Weston said that […]

Dodgy bank practices are damaging the industry: FBAA

As read in Australian Broker Pressure on bank staff to push “unsuitable” financial products on customers is hurting the integrity of the industry, the Finance Brokers Association of Australia (FBAA) has warned. The FBAA is responding to a Fairfax Media report, which claimed Commonwealth Bank staff felt pressured to meet performance targets to sell products which are […]