Showing 1 to 6 of 6 results
RBA Critiques Banks' Response to Interchange Fee Cuts
Reserve Bank of Australia (RBA) governor Michele Bullock criticized Australian banks and credit card providers for threatening to reduce fraud prevention measures in response to the RBA's plan to cut interchange fees, a move projected to save consumers $1.2 billion annually.
RBA Critiques Banks' Response to Interchange Fee Cuts
Reserve Bank of Australia (RBA) governor Michele Bullock criticized Australian banks and credit card providers for threatening to reduce fraud prevention measures in response to the RBA's plan to cut interchange fees, a move projected to save consumers $1.2 billion annually.
Progress
44% Bias Score
Australian Banks Delay Rate Cuts, Maximizing Profits
Following the RBA's July 27, 2024, 0.25 percentage point cash rate cut, Australia's Big Four banks delayed passing on the full reduction to variable mortgage holders for up to 17 days, maximizing profits at the expense of borrowers while swiftly cutting savings account interest rates.
Australian Banks Delay Rate Cuts, Maximizing Profits
Following the RBA's July 27, 2024, 0.25 percentage point cash rate cut, Australia's Big Four banks delayed passing on the full reduction to variable mortgage holders for up to 17 days, maximizing profits at the expense of borrowers while swiftly cutting savings account interest rates.
Progress
56% Bias Score
Australian Bank Fees Jump 5% as Cost of Living Crisis Drives Borrowing
Australian households paid almost 10% more in bank fees in 2023-24, driven by increased credit card and personal loan use amid the rising cost of living, leading to a 5% jump in bank fee revenue—the first annual increase in seven years.
Australian Bank Fees Jump 5% as Cost of Living Crisis Drives Borrowing
Australian households paid almost 10% more in bank fees in 2023-24, driven by increased credit card and personal loan use amid the rising cost of living, leading to a 5% jump in bank fee revenue—the first annual increase in seven years.
Progress
20% Bias Score
Australian Banks Report Easing Mortgage Stress, Increased Housing Credit Growth
Australia's major banks reported lower-than-expected bad debts and increased housing credit growth in their latest financial results, indicating easing household financial stress but raising concerns about potential future risks associated with further rate cuts and the competition with mortgage bro...
Australian Banks Report Easing Mortgage Stress, Increased Housing Credit Growth
Australia's major banks reported lower-than-expected bad debts and increased housing credit growth in their latest financial results, indicating easing household financial stress but raising concerns about potential future risks associated with further rate cuts and the competition with mortgage bro...
Progress
28% Bias Score
Australia's Banks' Implicit Bailout: A Costly Guarantee
Australia's major banks benefit from an implicit government bailout guarantee, costing taxpayers billions annually; a current levy generates only $1.7 billion yearly, far less than the estimated value of this insurance, which experts propose increasing to improve competition.
Australia's Banks' Implicit Bailout: A Costly Guarantee
Australia's major banks benefit from an implicit government bailout guarantee, costing taxpayers billions annually; a current levy generates only $1.7 billion yearly, far less than the estimated value of this insurance, which experts propose increasing to improve competition.
Progress
48% Bias Score
Soaring Australian Bank Valuations Raise Systemic Risk Concerns
Australian big four bank valuations increased by $148 billion since late 2023 to nearly $590 billion, primarily due to significant investments from superannuation funds, raising concerns about systemic risk within the $4 trillion superannuation pool.
Soaring Australian Bank Valuations Raise Systemic Risk Concerns
Australian big four bank valuations increased by $148 billion since late 2023 to nearly $590 billion, primarily due to significant investments from superannuation funds, raising concerns about systemic risk within the $4 trillion superannuation pool.
Progress
40% Bias Score
Showing 1 to 6 of 6 results