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Unemployment now 3.5%
14 July 2022

“This is the lowest unemployment rate since August 1974, when it was 2.7 per cent and the survey was quarterly.”

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Banking in the news
BCCC: Banks want your input on how to be more compassionate
14 July 2022

“It doesn’t seem so long ago the major banks got caught out charging fees to dead people. Now they want to hear the good, bad and indifferent experiences you’ve had, especially with deceased estates. “

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Banking in the news
Sky News: ABA says talk to your bank early
13 July 2022

“What I can say is the best chance they’ve got of their bank helping them in a very practical way is if they talk to their bank early.”

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Banking in the news
Flood affected customers encouraged to contact their bank
13 July 2022

“Unfortunately for many, a natural disaster can turn into financial disaster and customers are encouraged to talk to their bank, as soon as they are able, and find out about the assistance that may be available to get them through this tough time.”

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Banking in the news
Sri Lankan crisis set to deepen as President flees to Maldives
13 July 2022

Sri Lanka is currently seeking bridge financing to restore the flow of food and fuel to the population.

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Data
Speech: Assistant Treasurer Stephen Jones on Responsible Lending & Borrowing
13 July 2022

“let’s have an end to the silly argument about whether BNPL is credit and get on with the next stage of growth”

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Highlights
Telcos now face $250k fines for sms scams
12 July 2022

mobile providers could be fined up to $250,000 if they don’t identify, trace and block text message scams, share information about scam messages with other providers, and report scams to the authorities.

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Highlights
Neobanks and VCs say bank disruption isn’t over
11 July 2022

“The neobank experiment most certainly hasn’t failed, it is still in its infancy, and this is a much needed shake-out,”

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Data
Oil price drops, new COVID sub-variant in China
11 July 2022

Shanghai reported its first case of the BA.5 sub-variant on Sunday, warning of “very high” risks

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Banking in the news
Transcript: ABA responds to Lismore floods
8 July 2022

“if you think you’re in financial trouble, or you might be, talk to your bank as early as you can, they’ve got very practical ways of helping. Don’t let a natural disaster turn into a financial disaster if you can avoid it.”

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Banking in the news
Pound Climbs and UK Stocks Rise on Reports of Johnson Resignation
8 July 2022

But the long-term outlook for investors rests on a sluggish BoE.

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Banking in the news
Australia’s first Islamic Bank
7 July 2022

Australia’s first Islamic bank, IBA, has been granted a restricted licence by APRA.

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