IO loan renewals will require full income verification soon, says the bank
The non-major hits out at "distorted competition" that disproportionately affects smaller banks
The bank plans to invest $1.5bn a year in technology
Non-majors now account for more than 37% of the group's flows
Clarification by the ATO relating to SMSF trustees has been welcomed by those in the industry.
Brokers are calling for further competition in the LMI space as premiums continue to rise, while LMI providers have defended the price hikes.
Westpac chairman Lindsay Maxstead has cautioned against the 'extraordinary wave of regulation' impacting the finance sector in the face of a fresh round of banking regulations.
ANZ has kept its home loan variable interest rate unchanged, while announcing it will no longer include business loans in its monthly interest rate review.
Non-bank lenders have more than doubled the growth rate of banks, but industry bodies say competition between the big four is not strong enough.
The real estate industry has welcomed the decision to scrap a proposed national licensing reform.