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Bank Victims

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Former ACCC boss calls for ASIC to be stripped of powers over banks

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Photo: Former ACCC chairman Allan Fels does not believe ASIC has what it takes to regulate the banks. (AAP: Alan Porritt)

Founding chairman of the Australian Competition and Consumer Commission (ACCC), Professor Allan Fels, has slammed the corporate regulator for being weak and ineffective in fighting bank misconduct.

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Australia's biggest ever financial scam unfolded in plain sight

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Illustration: John Shakespeare

The biggest financial swindle in Australian history was not masterminded by a smooth-talking shyster in silk tie and fancy loafers. It didn’t involve complex money shifting to the Bahamas, the establishment of sham companies or falsified documents.

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Senator Anning Calls For Expanded Banking Royal Commission

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Senator Anning Calls For Expanded Banking Royal Commission

Summary: In a move sure to get results Senator Fraser Anning is hosting a media event to show all Australians that the banking Royal Commission needs to be enhanced and extended to do the job required. On Tuesday August 14 2018 bank victims and other concerned citizens are coming to Canberra to support his efforts.

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IMPORTANT NOTICE: ENOUGH IS ENOUGH! - IT’S TIME FOR US TO ACT!

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IMPORTANT NOTICE: ENOUGH IS ENOUGH! - IT’S TIME FOR US TO ACT!

There is no doubt that the investigative work and performance of the Commissioner and his legal team to date has exceeded our wildest expectations. The Royal Commission’s effectiveness has been a major blow for the banks and the government because they thought that the terms of the Commission and it time frame were such that it wouldn’t be overly productive. In truth, it was designed to fail because those in Office didn’t want us to find out just how ham-fisted they have been in the past where the banking sector is concerned.

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NAB to stop charging drought-affected farmers penalty interest rates for missed repayments

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NAB to stop charging drought-affected farmers penalty interest rates for missed repayments

National Australia Bank has bent to the pressure brought by the royal commission and will stop charging drought-affected farmers penalty interest rates for missed repayments, despite telling the inquiry just a few weeks ago that the practice met community expectations.

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Bank bosses face royal commission grilling

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CEO Matt Comyn is one of the bank chiefs expected to be called to give evidence on policy at the royal commission. Photo: Peter Braig

The bosses of the country's biggest banks are expected to be hauled before the royal commission in November. Fairfax Media understands that Commonwealth Bank's Matt Comyn, ANZ Bank's Shayne Elliott, Westpac's Brian Hartzer and National Australia Bank's Andrew Thorburn will all face questioning at the commission.

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Banking royal commission: ASIC should cancel big banks' operating licences if they behave badly, experts say

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Banking royal commission: ASIC should cancel big banks' operating licences if they behave badly, experts say

Just weeks after the boss of Dover Financial collapsed in the witness box at the banking royal commission, the badly behaving company was out of business, bowing to pressure from the Australian Securities and Investments Commission (ASIC) to surrender its licence.

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Banking royal commission: How a farming family lost everything after 45 years on the land

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Photo: Harold and Barbara Cronin farmed at West River on WA's south coast for 45 years. (ABC Great Southern: Aaron Fernandes)

Harold and Barbara Cronin spent 45 years building their family's farming enterprise on Western Australia's south coast. In two short years, it was gone.

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Who are the six top bankers facing criminal cartel charges?

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Infographic: Banking executives charged with being part of criminal cartel. (ABC News)

One of the more extraordinary details out of the Australian Competition and Consumer Commission's pursuit of criminal charges over ANZ's problematic $2.5 billion capital raising is the seniority of the bankers involved.

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Bank seizes pub despite owner never missing a payment

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Stephen Weller's dream was shattered when his hotel went into receivership. Photo: AAP

BankWest’s move to arbitrarily cut the term of a 13-year loan to one year kicked off a chain of events that ultimately ended in receivership for a NSW publican, the financial services royal commission has heard.

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