The Reserve Bank has warned for the first time bigger falls in house prices will start to hurt the economy and drive up unemployment | swrighteconomy
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Property prices tipped to plunge further as lending slumpsThe Reserve Bank is expected to cut Australia’s already record-low interest rates later this year as house prices continue to plummet. 9News
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Rate cut calls grow as home loans fall at their fastest rate since GFCThe sharpest fall in home loans since the depths of the global financial crisis has prompted calls for the Reserve Bank to slice interest rates | swrighteconomy
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The corporate regulator is getting a taste for bank bloodThe freshly turbocharged corporate regulator is throwing grenades into just about every crevice in the banking industry - and Westpac is the latest to feel the heat.
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ANZ admits it was 'overly conservative' in home loansWith its mortgage book shrinking, ANZ chief Shayne Elliott concedes the bank may have been too cautious in its home lending decisions.
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Katter willing to extend sitting hours in exchange for bank reform | Sky News AustraliaIndependent MP Bob Katter says he is willing to extend parliament’s sitting hours if he can secure ‘substantial’ reform to the banking and financial sectors prior to the next election.\n\nLabor has called for the Coalition to allow parliament to sit for longer than the 10 days scheduled before the expected federal election in May.\n\nMr Katter says he ‘fought for’ the banking royal commission and wants to see reform enacted.\n\nCommissioner Kenneth Hayne's final banking royal commission report contained recommendations for stricter penalties for negligent mortgage brokers and greater oversight of financial advisors, among other proposed measures.\n\n\n
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How the modern-day mortgage broker subverted the old-style bank managerMortgage brokers are undertaking a major ad campaign to defend their industry against Kenneth Hayne's recommendations that they lose their commissions, but many of their arguments struggle to stack up.
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Australian farmers worst hit by big banks: whistleblower | Sky News AustraliaFarm debt mediation is just one of many of the Banking Royal Commission recommendations whose implementation should be prioritised, says former Commonwealth Bank employee-turned-whistleblower Jeff Morris. \n\nMr Morris told Sky News Australian farmers have been most negatively impacted by the banking sector and ‘this modern style of crash bang banking’ \n\nHe has urged the government, together with banks, to take immediate action. \n\n\n\n\n\n\n\n
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