Personal Loans Australia News

Commonwealth Bank changes ads following ASIC concern - Jan 16, 2012
The Commonwealth Bank of Australia has agreed to change some of its advertised loan comparison rates after concerns were raised by the Australian Securities and Investments Commission (ASIC)...

Inflation fall strengthens case for rate cuts - Dec 06, 2011
A leading unofficial measure of inflation eased last month due to falling food and fuel prices, strengthening the case for interest rate cuts next year...

Reserve Bank cuts domestic growth outlook - Nov 07, 2011
The Reserve Bank of Australia (RBA) has cut its forecast for economic growth and inflation in its latest quarterly report card...

ASIC moves on consumer credit insurance - Oct 21, 2011
The Australian Securities and Investments Commission (ASIC) has moved to provide further guidance for banks, credit unions and building societies offering consumer credit insurance (CCI) to improve their practices and reduce the risk of miss-selling...

Government cracks down on payday lenders - Sep 04, 2011
The Government has moved to place limits on the fees payday lenders can charge to 'small amount' borrowers, inviting comment on draft legislation...

Bank switching plan gets industry tick - Aug 22, 2011
The Federal Government's plan to make switching banks easier has been welcomed by the banking industry and consumer groups...

Householders reducing debt in uncertain times - Jun 07, 2011
The latest West Australian consumer confidence survey reveals local households are saving more and getting rid of debt...

Banks cancel cards over potential security breach - May 30, 2011
All major banks have blocked, restricted or cancelled what totals thousands of credit cards in response to a potential security breach...

Reserve isolated in tackling global inflation challenge - May 18, 2011
The Reserve Bank has again emphasised its role is to tackle inflation in the broader economy, leaving government policymakers to address the challenges of a two- or three-speed economy...

Rates could rise next month: economists - May 09, 2011
Two major banks have shifted their forecasts for the next official interest rate rise forward to next month...

Credit reforms open for consultation - Mar 09, 2011
Amendments to the National Consumer Credit Protection Act 2009 will give effect to some of the reforms announced as part of the Government’s Fairer, Simpler Banking policy and are now open for consultation...

EFTPOS announces fee reversal - Mar 09, 2011
The company that runs the EFTPOS electronic transaction system is planning to introduce a new fee structure before the end of the year...

ANZ looks to growth in Asia - Feb 21, 2011
ANZ says its 27 per cent rise in quarterly profit is partly due to an expanding customer base both domestically and in its key markets in Asia...

Switch to portable bank accounts not easy - Jan 24, 2011
A federal parliamentary inquiry into banking competition has heard that introducing portable bank account numbers is likely to require significant changes to the system...

Govt, banks and insurers act - Jan 17, 2011
The Federal Government, in consultation with the banks, insurers and some elements of the financial services industry, has acted to remove some of the red tape and fees and charges likely to affect businesses affected by the floods in Queensland and elsewhere in Australia...

Dollar to stay high in 2011 - Jan 04, 2011
Economists are expecting the Australian dollar will continue to rise this year and should hover around parity with the greenback for several months...

RBA and APRA agree to banking liquidity framework - Dec 21, 2010
The Reserve Bank of Australia (RBA) and the Australian Prudential Regulation Authority (APRA) have agreed to help authorised deposit-taking institutions (ADI) adhere to new liquidity requirements...

Forecaster slams RBA's premature rate rise - Dec 08, 2010
An economic forecaster says the Reserve Bank may have been too hasty in raising interest rates last month, because many parts of the economy are still experiencing very tough conditions...

Bank customers urged to switch and ditch - Dec 06, 2010
The year might be winding down in the lead-up to Christmas, but the heat is intensifying for Australia's big four banks...

Frustration continues for NAB customers - Nov 29, 2010
The National Australia Bank says it cannot promise that thousands of customer accounts will be restored by the end of today...

Coalition moves to boost bank competition - Nov 22, 2010
The Federal Opposition will introduce a private member's bill today aimed at increasing competition in the banking sector...

US sues American Express - Oct 06, 2010
The United States government has filed a lawsuit against credit card company American Express for allegedly imposing unfair restrictions on merchants who accept its cards...

Reverse mortgages: badly judged or just misunderstood? - Sep 07, 2010
Reverse mortgages are often condemned as risky and complex financial products. Consumers have very little understanding of these retirement solutions and what they can offer and many financial planners have generally given them a wide berth, opting instead to concentrate on an investment portfolio that focuses on wealth generation rather than retirement planning...

Westpac cautious on outlook - Aug 24, 2010
Westpac Group recorded a solid June quarter with cash earnings totalling $1.4 billion, despite slightly decreased earnings when compared to the previous quarter...

RBA chief calls for 'less exciting' finance - Aug 18, 2010
The governor of the Reserve Bank, Glenn Stevens, has issued a cautionary note on regulation of the financial sector at a speech at the University of Western Australia...


Wed, 28 January 2009
Banks hard pushed to reject this offer
You can almost hear the expletives ricocheting around the boardrooms of debt-laden companies across the nation as executives are ordered to find the talented lobbyist responsible for rescuing the commercial property industry...



Wed, 04 February 2009
Saving the nation
THE ailing economy has been supercharged against recession with the Government unveiling a massive $42 billion stimulus package and the Reserve Bank slashing interest rates by another 1 percentage point...



Tue, 31 March 2009
Yield of dreams: hand-picking the right fund
Amid the sharemarket turmoil, some sectors have still thrived, writes David Potts.Managed funds haven't been all bad in the past year. Just most of them.

And the ones that have been thriving are the most unlikely.

During a worldwide recession, a global equities fund posts a 46 per cent return? Sure did but you had to be in the right one.

As you'd expect, the worst one bombed badly, losing more than 70 per cent of its value in a year.

And there's one Australian share fund that almost broke even despite the fact the sharemarket had halved in value.

So sticking to cash might not have been the best strategy after all, even if it was the safest.

But its days are numbered. The Reserve Bank seems set to cut official rates to about 2.5 per cent and you can imagine what that will do to your returns from cash.

Then again, sharemarkets around the world are still volatile.

It's possible they've put the worst behind them but that doesn't mean their best is immediately ahead, either.

The next safest sector to cash, and potentially more profitable, is bond funds.



Tue, 12 May 2009
Financial News Headlines
Cut to super limits is a bit rich

Superannuation, 12 May :: 'Slug the rich." As phrases go, this is political gold. Whether it's aimed at John Howard's "battlers" or Kevin Rudd's "working families", it sends a clear message... read more

Mortgage stress defies low interest rates

Home Loans, 12 May :: Interest rates may be at historic lows in Australia but almost a third of mortgage-holders are experiencing mortgage stress, according to a new survey released by British-based research house Datamonitor... read more

Pensioners feeling the squeeze

Superannuation, 12 May :: Another quarter of negative investment returns for superannuation and pension funds means pensioners are doing it particularly tough, with many needing to contemplate a return to the workforce, according to the latest data released by research house Chant West... read more

Hourly fees will deprive many of advice: PIS

Financial Planning, 12 May :: The managing director of Australia’s largest dealer group, Professional Investment Services, has come out in support of the Financial Planning Association’s (FPA) guidance paper on the phasing out of commission payments to financial advisers, while at the same time questioning an hourly rate payment model... read more

OAMPS moves further into life insurance space

Insurance, 12 May :: OAMPS Insurance Brokers, a predominantly general insurance broking company owned by Wesfarmers, is trying to attract life insurance specialists to service its existing client book... read more

Shares hit by profit-taking

Sharemarket, 12 May :: The Australian share market finished the day weaker, pressured by banks and miners as a strong recent rally ran into profit taking, while a rush of fresh equity raisings also weighed on the market... read more

RBA forecast points to 'rates staying on hold'

Home Loans, 11 May :: A leading economist says the Reserve Bank's latest economic forecasts indicate that official interest rates will remain on hold... read more





Mon, 03 August 2009
RBA set to leave cash rate unchanged
The Reserve Bank of Australia (RBA) is expected to leave interest rates on hold in a further sign it has reached the end of its rate cutting cycle, economists say...



Mon, 10 August 2009
Stocks jump on upbeat employment data
US stocks rose on Friday to their best levels of the year after a much-awaited July jobs report was better than expected, signalling a likely turnaround in the long and painful recession...



Mon, 24 August 2009
Make the sacrifice now
Start extra super contributions and reap the benefits later, writes Bina Brown.NUMEROUS studies have shown that just contributing the 9 per cent superannuation guarantee to your retirement funds is hardly going to be enough to retire on comfortably...



Mon, 31 August 2009
IFSA calls for ‘full tax deductibility’ of advice fees
The Investment and Financial Services Association (IFSA) has called for full tax deductibility on all financial advice at an inquiry hearing today into financial products and services before the Parliamentary Joint Committee on Corporations and Financial Services...



Mon, 07 September 2009
AFA backs Treasury line on planning
The Association of Financial Advisers (AFA) has made clear it will be using today’s Sydney hearings of the Parliamentary Joint Committee on Corporations and Financial Services to back the Department of Treasury’s view on the future shape of the financial planning industry...



Tue, 13 October 2009
Personal loans top $7 billion in August
The August data released on Monday by the Australian Bureau of Statistics showed personal loans - fixed and revolving credit - rose by a seasonally adjusted 4.1 per cent compared to July to $7.18 billion.



Mon, 23 November 2009
A snug fit now, but property loans for super could vanish
SUPERANNUATION and property are the piggybanks into which most Australians pour their life's wealth. Until recently, they were treated quite differently, with superannuation locked tight to minimise risk to retirement savings but the lid on the property money box left loose...



Mon, 30 November 2009
Next generation of financial planners waits in the wings
Dealer groups must adopt programs that encourage practices to employ junior financial planners, according to e-Jobs Recruitment Specialists director Trevor Punnett...

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