Banks will need to give at least 10 days’ notice before making any materially adverse changes to small business customers’ terms and conditions, as part of the revised Code of Banking Practice.
The Australian Bankers’ Association has issued a stark warning to merchants and consumers over payment fraud, with new data showing credit card fraud is surging as online retail booms.
Federal Treasurer Wayne Swan has claimed that yesterday’s strong GDP figures would put the “doomsayers” of Australia’s economy “back in their box.”
Industry groups have thrown their support behind the Federal Government’s renewed promise to return the budget to surplus, but have raised doubts over the measures it will use to achieve this.
The Australian Bankers’ Association has rebuffed a proposal to cap the surcharge fees imposed by credit card customers, much to the dismay of EFTPOS payment platforms.
New figures reveal online credit card scams are increasing, with social media attributed partial blame, but the Australian Bankers Association insists fraud rates are still low.
A new report by the Australian Competition and Consumer Commission reveals scam-related reports more than doubled from 2009 to 2010, with online scams soaring.
A new report has revealed that investors are seeing increased potential in the ATM market, prompting a renewed call for a cap on ATM fees.
Business owners in Brisbane are beginning the enormous clean up operation as a result of the floodwaters which saw the Brisbane River break its banks.
Federal Treasurer Wayne Swan’s proposed banking reforms have received mixed reviews from business and banking representatives.
The Federal Government will examine how to make it easier for borrowers to switch lenders, considering measures such as introducing portable bank account numbers.
The Australian Bankers’ Association has hit back at shadow treasurer Joe Hockey’s insistence that the government should do more to force the banks to keep their interest rates down.
Businesses will soon be on a better footing with banks and other lenders, with the Financial Ombudsman Service planning to publicly name and shame the worst offenders.
The government will not follow the UK and Canada and actively encourage the establishment of a bank specifically for small businesses, the new small business minister has told StartupSmart.
The Greens will continue to push for new regulation on banks to place caps on savings account charges and ban $2 ATM fees.