Chanticleer| Australian Financial Review| 28 March 2019 https://www.afr.com/chanticleer/how-banks-made-their-case-on-credit-culture-in-hong-kong-20190328-p518nk Hong Kong | There’s nothing like a trip overseas to remind you of Australia’s place on the world stage. But at the Credit Suisse Asian Investment Conference in Hong Kong this week there is one aspect of Australian business life that drew a good deal of fascination […]
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Kevin Davis| The Conversation| 25 March 2019 https://theconversation.com/sam-and-the-honest-broker-why-commissioner-hayne-wants-mortgage-brokers-to-charge-fees-114071 The Royal Commission recommendation that mortgage broker commissions, currently paid by lenders, should be replaced by up-front fees paid by borrowers, has been controversial to say the least. Royal Commissioner Kenneth Hayne wanted to eliminate first the “trail”, or annual ongoing commission paid by lenders to brokers, […]
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Cait Kelly| 27 March 2019| The New Daily https://thenewdaily.com.au/money/property/2019/03/27/property-sold-before-auction/ As property prices continue to fall across the country, houses and apartments are increasingly being sold before auction, industry figures say. Nervous vendors are being met by assertive buyers looking to stamp out competition and secure a sale without the stress of an auction. Head of […]
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Henry Belot| The New Daily| 29 March 2019 https://thenewdaily.com.au/news/national/2019/03/29/labor-negative-gearing-concessions/ A Labor government would scrap negative gearing concessions for new investors on January 1 next year, earlier than many analysts and commentators predicted. Shadow Treasurer Chris Bowen said the long-awaited start date would still provide enough time for scrutiny of the legislation and more industry consultation. […]
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Stephanie Chalmers| ABC Online| 27 March 2019 https://www.abc.net.au/news/2019-03-27/anz-and-nab-bosses-face-parliamentary-grilling/10943760?section=business The bosses of ANZ and NAB have told a parliamentary hearing their banks are willing to lend, amid a greater focus on responsible lending in the wake of the banking royal commission. Key points: The bosses of ANZ and NAB are facing their biannual grilling by a […]
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Philip Coorey, John Kehoe & Natasha Gillezeau| Australian Financial Review| 12 March 2019 https://www.afr.com/news/politics/coalition-backs-down-on-ending-trail-commissions-for-mortgage-brokers-20190312-h1caoj The federal government has backflipped on a key recommendation of the banking royal commission and will no longer ban trail commissions for mortgage brokers from 2020, as it promised to do last month. Instead, it will hold a review into whether […]
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