Australia’s financial sector is defined by the power of the big-four banks, the money they make off housing loans and their billion dollar annual profits to shareholders. In the face of ongoing misconduct and price gouging, it’s time for Government to step in and ensure that there is a low-cost banking service, backed by the...

Over the ten years to 2026-27, when the total benefit to companies is estimated at $65 billion, The Australia Institute estimates the big four banks will receive a ‘gift’ of $9.5 billion, with the Commonwealth Bank alone to receive $2.8 billion.

Reforms are being introduced to improve the efficiency and level of competition in consumer lending, with a goal of driving better pricing, enhanced access to finance and new products and services.

This report provides more detailed guidance to bank and non-bank lenders about compliance with the unfair contract terms laws, as they relate to small business.

The opaque pricing of discounts offered on residential mortgage rates makes it difficult for customers to make informed choices and disadvantages borrowers who do not regularly review their choice of lender, this report by the ACCC has found.