Labor says victims of banking misconduct will be eligible for up to four times more compensation than they do presently, and have a second chance to argue their cases, if it wins the election.
A class action is launched against one of Australia's biggest banks over alleged irresponsible lending practices dating back to 2011. The action is the first launched in the wake of the banking royal commission and could affect thousands of Australian home loans.
The corporate watchdog is contemplating more than 40 court cases — including criminal prosecutions — in the wake of the banking royal commission as it adopts a litigate-first strategy.
Westpac's share price rises off the back of a trading update showing the banking giant reaped $2.04 billion in profits during the last three months of 2018, thanks to higher interest margins.
Pressure is building on the Federal Government to establish an inquiry into abuse within the disability sector, with the Parliament set to support a motion from the Senate, but it remains unclear if it will act upon calls to establish a royal commission.
The accounting sector's professional standards body is meeting today, but only 15 minutes is dedicated to discussing the conflicts of interest that risk customers coming second to profits for many accountant financial planners.
Question Time was unusually extended to over two hours on Thursday, in what the Opposition described as a tactic by the Coalition to escape the second vote on the floor of the House of Representatives in a week.
The banking royal commission's proposed crackdown on dealers signing customers up for car loans could also hit the 'interest-free' deals retailers use to get shoppers over the line for big purchases, from whitegoods to electronics.