But FBAA says lenders have to take responsibility for explaining changes to credit reporting to their clients
Gross revenue from broking declines, with commissions received falling 3%
The lender's non-principally funded settlements dropped 20%
The appointee will provide leadership and financial management to the company
A major bank has slashed its two- and three-year fixed-rate loans.
The broker industry has undergone a raft of changes in the last five years, and brokers and banks need to work together to ensure customers receive the best possible service, says NAB head of broker distribution Steve Kane.
A top NAB exec has taken a swipe at the bank's competitors for “aggressive” tactics designed to gain market share.
Following a Melbourne broker’s ban for failing to verify documents, lenders and aggregators have been called on to help brokers meet ASIC requirements.
Multiple brands, misleading advertising and clawback provisions are stifling competition in the industry and causing confusion amongst consumers, says the former CEO of a broker association.
ASIC chairman Greg Medcraft is meeting with industry groups to spruik the idea of a business levy to help fund the regulator.