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Prospa to fix unfair contract terms after ASIC probe delayed float
Contracts 2018-09-07 9:29 pm By Cat Fredenburgh

Online lender Prospa has agreed to alter unfair terms in its standard form small business loan contracts, after it delayed a planned float due to […]

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McMillan Shakespeare unit hit with class action over car warranties
Baker McKenzie 2018-09-06 10:15 pm By Christine Caulfield

A subsidiary of car leasing company McMillan Shakespeare faces a class action over vehicle warranties that gave the company “complete and unfettered” discretion to reject […]

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ASIC sues NAB over $100M in fees for no service
Financial Services 2018-09-06 7:29 pm By Cat Fredenburgh

ASIC has taken two NAB wealth management units to court for allegedly charging superannuation members around $100 million in fees for services they never received. […]

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Adcock Private Equity wins $1M judgment against ex-Aussie Home Loans boss
Financial Services 2018-09-05 7:41 pm By Cat Fredenburgh

Private equity firm Adcock has won almost $1 million in a judgment against the former boss of Aussie Home Loans, Stephen Porges, who was found […]

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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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