Archive | Banks

Beware: Our Banks need to stop targeting kids

If you’re anything like me, you had a Dollarmite account growing up. CommBank’s strategy worked – but there’s something seriously wrong with this picture. Alex McKinnon wrote a great article recently, detailed below, shedding light on the fact many banks are targeting young children with their marketing material – and have been doing this for […]

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Lenders warn: Cyber mortgage fraud on the rise

The cost of financial fraud increases by more than one-third each year in Australia. In 2017, you can never be too wary when it comes to fraudulent behaviour.  Duncan Hughes of Financial Review has the concerning report. Sophisticated mortgage fraud using authentic digital applications are on the rise, according to fraud experts tracking an estimated $1 billion in […]

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Company profits surge as wages fall

Official data show wages going backwards while company profits surged at the end of last year, with mining and construction leading the trend. Bureau of Statistics business indicators data for the December quarter show a massive 20.1 per cent surge in profits over the quarter, while wages fell 0.5 percent. The mining sector led the […]

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Ombudsman to call on banks to give small businesses three months’ notice before ending loans

 Australian banks would be required to give small businesses at least three months notice before ending or substantially changing their loan, if a recommendation by small business ombudsman is adopted. Australian Small Business and Family Enterprise Ombudsman Kate Carnell has been “forensically” examining how the big banks treat their small business customers since August and her […]

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