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Westpac to pay $35M to settle ASIC case over automated home loans
Financial Services 2018-09-04 3:07 pm By Cat Fredenburgh

Westpac will pay $35 million to settle a case brought by ASIC alleging the bank breached responsible lending laws through its automated home loan system, […]

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Westpac close to settling ASIC’s responsible lending case
Financial Services 2018-09-03 9:27 pm By Miklos Bolza

A trial set to begin Monday morning in ASIC’s landmark case against Westpac alleging the bank breached responsible lending laws was postponed amid settlement talks, […]

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Macquarie Group hits back at advisers’ wage claims
Employment 2018-09-03 9:06 pm By Christine Caulfield

Macquarie Group has defended its remuneration package for financial advisers in its private wealth unit, denying claims it paid them entirely in commissions and unlawfully […]

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Exiled broker ponders misleading conduct case against Westpac
Financial Services 2018-09-03 2:26 pm By Miklos Bolza

A mortgage broker can eyeball an internal Westpac document as he considers a misleading and deceptive conduct case against the bank for stripping him of […]

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Judges to up scrutiny of confidentiality in class action settlements
Analysis 2018-08-30 11:30 pm By Christine Caulfield

The decision by a federal judge to refuse calls for a confidentiality order keeping under wraps S&P Global’s massive class action settlement is a welcome […]

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S&P, ANZ pay $215M to settle class actions over CDO ratings
Class Actions 2018-08-30 11:22 am By Miklos Bolza

S&P Global and ANZ will pay $215 million to settle consolidated class actions brought by investors over toxic CDOs, a figure revealed by the Federal […]

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AMP wins bid to move class actions to state court
Class Actions 2018-08-29 2:24 pm By Christine Caulfield

AMP has prevailed in a hard-fought fight over where it will defend five shareholder class actions brought in the wake of the Banking Royal Commission, […]

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ASIC cautions lenders against reverse mortgage ‘box-ticking’
Article 2018-08-28 10:57 pm By Christine Caulfield

The Commonwealth Bank of Australia and other lenders have been warned by the corporate watchdog against a “tick-boxes” approach to reviewing reverse mortgage applications by […]

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Judge won’t recuse himself from Bendigo Bank cases over Great Southern loans
Class Actions 2018-08-28 2:48 pm By Cat Fredenburgh

A judge refused Tuesday to step down from two cases brought by Bendigo and Adelaide Bank seeking to claw back loans from group members in […]

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Client’s identity shielded by privilege, court rules
Securities 2018-08-24 11:57 pm By Christine Caulfield

Correspondence to a law firm revealing a client’s identity was covered by legal professional privilege because the firm’s advice was contingent on the client providing […]

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