The remediation follows an error in the bank's systems which failed to switch IO customers to P&I payments after the specified period
The move will see the broker and her husband barred from engaging in credit agencies after the pair contravened a prior ASIC order
The changes come as part of an enhanced broker model developed after consultation with CIF and the bank’s third party network
The former Prime Minister now joins in a phase of growth for the investment house as its first independent director of the board
Second-tier banks have refuted claims from brokers that there is a lack of flexibility and product innovation amongst the non-majors.
Two more lenders have joined the recent bevy of rate cuts, upping the anti in the fight for market share.
ASIC has been busy over the past six months cracking down on those in the financial services industry - and brokers have been in the spotlight.
Consumer financial stress is forecast to rise during 2014 to its highest level in more than a year as the finance industry prepares for upcoming positive credit reporting changes.
Pre-budget submissions have called on the government to tackle low levels of first home buyers and soaring house prices.
A major bank has followed its launch of commission changes with announcements of rate cuts and a new broker referral program