The Balance · Consumer news from Choice

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Banks are exploiting loyal customers, report reveals

Feb. 7, 2018 — Tony Ibrahim

A federal government report describes the banking sector as institutionally anti-competitive.

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Bank's 'significant failures' revealed in royal commission filing

Jan. 30, 2018 — Tony Ibrahim

Australia's big four banks have each catalogued 10 years of misconduct.

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Loan fraud lands ANZ in trouble

Jan. 22, 2018 — Tony Ibrahim

Approximately $10m will be paid by the bank for fraudulent car loans.

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Victims will get a say in banking royal commission

Jan. 16, 2018 — Tony Ibrahim

$75m royal commission will take submissions from individuals.

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VW's financing arm slapped with a $200k fine for 20 infringement notices

Dec. 1, 2017 — Tony Ibrahim

ASIC has penalised the company over shady advertisements.

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Royal Commission announced, will probe big four banks

Nov. 30, 2017 — Tony Ibrahim

$75m probe announced as the banks publicly volunteer for an inquiry

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New credit check system will hurt the poor, consumer groups warn

Nov. 3, 2017 — Tony Ibrahim

The government's plan to document every late repayment has been met with criticism from banks and consumer groups alike

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Businesses should be stripped of ill-gotten profits, task force says

Oct. 24, 2017 — Tony Ibrahim

ASIC's penalties described as 'too low' and 'inadequate', ahead of calls for change.

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Commonwealth Bank, facing public scrutiny, cleans up Dollarmites commissions

Oct. 9, 2017 — Tony Ibrahim

But the changes won't come into effect until 2018.

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Big banks abolish ATM withdrawal fees

Sept. 25, 2017 — Tony Ibrahim

Starting today for some banks.

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Real-time payments

June 26, 2017 — Rebecca Douglas

In an age of instant noodles, instant scratchies and instant coffee, why do payments sometimes take days to reach their destination?

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Real-time transfers launching in October with BPay's Osko

May 16, 2017 — Tony Ibrahim

The first service to support the New Payments Platform has been revealed.

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Aussies losing $11m in fat-fingered net transfers

May 4, 2017 — Tony Ibrahim

An estimated 7000 households are affected each year.

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Fees, poor service are top pain points for bank customers

April 26, 2017 — Tony Ibrahim

CHOICE calls for industry reform before Senate inquiry.

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How to check if you have a stake in $1.1b in unclaimed money

April 26, 2017 — Tony Ibrahim

Some unclaimed accounts are holding more than a million dollars.

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