More Australians are struggling to manage debt, mortgage stress and financial hardship, with the number of bankruptcies and debt agreements around the country increasing over the past three months.
Both National Australia Bank (NAB) and Commonwealth Bank of Australia (CBA) have announced that they will participate in Comprehensive Credit Reporting (CCR) in 2018, allowing more Australians the opportunity to improve their credit ratings by exercising positive borrowing habits.
A financial services director has been banned from engaging in credit activities for three years after being found guilty of running an unlicensed payday lending business.
One hundred thousand no and low interest rate personal loans will be provided to low income Australians by NAB.
The Australian Securities & Investments Commission (ASIC) has commenced work with representatives from the banking industry on reforming Consumer Credit Insurance (CCI) in Australia.
An increasing number of Australians are applying for personal loans and turning away from credit cards and mortgages, according to new figures from Equifax.
While Australians are pouring more money into their homes, we’re not borrowing as much with our personal loans or credit cards, according to new figures from the Australian Bureau of Statistics (ABS).
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