Live Breaking News & Updates on நிதி துறை தொழிற்சங்கம்|Page 6
Stay updated with breaking news from நிதி துறை தொழிற்சங்கம். Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
‘The banks think that no one is watching’ Lachlan Maddock 07 April 2021 A survey of staff from Australia’s largest financial institutions shows that banking culture has only festered since the excoriating experience of the royal commission. Participants in focus groups organised by the Finance Sector Union (FSU) “overwhelmingly disagreed” that the sales-based culture of Australia’s big four banks had changed in the wake of the royal commission, with many claiming that things were worse than ever. “That’s untrue. Certainly untrue, especially for NAB. The literal opposite of what they’re doing at the moment. We’re still pushed to get targets, behaviours and actually targets,” said one participant, responding to a statement made by Australian Banking Association (ABA) chief Anna Bligh that “the linking of remuneration and bonuses to direct sales targets has been abolished”. ....
Mortgage Business Vic government urges action on credit card rates By Malavika Santhebennur 07 April 2021 The Victorian government has asked the Commonwealth to explore the option of mandating a maximum margin between credit card interest rates and the cash rate. Victoria’s Labor government has urged the federal government and the major banks to review credit card interest rates, stating that there are growing concerns that they are “excessive” and out of step with other interest rates. Treasurer Tim Pallas and Finance Sector Union state secretary Nicole McPherson have urged the major banks and the federal government to take action immediately to avoid consumers being exposed to what they said was “an unreasonable or unfair financial burden from high credit card rates”. ....
Last modified on Tue 6 Apr 2021 13.31 EDT The culture inside Australia’s banks has not improved in the two years since an overhaul of the scandal-prone sector was recommended by a royal commission, employees say. In focus groups conducted for the Finance Sector Union, bank workers rejected statements from the Australian Banking Association’s chief executive, Anna Bligh, that employees were no longer being paid based on hitting sales benchmarks. “If anything since the RC things have just gotten worse,” one worker said during the focus group sessions, a report of which has been obtained by Guardian Australia. “The banks think that no one is watching. Since the royal commission they’re just slipping things back in and it’s now worse than ever.” ....
Commonwealth Bank (ASX:CBA) share price and weekly news wrap Bernd Struben | April 1, 2021 4:28pm | More on: The Commonwealth Bank of Australia(ASX: CBA) share price is slipping late afternoon trading, down 0.5%. The fall comes despite a the With the ASX closed tomorrow (and Monday) for the long Easter weekend, we take a look at how and why Commonwealth Bank shares moved this week. How the Commonwealth share price moved this week Yesterday, 31 March, was the only day this week that Commonwealth Bank shares gained, closing the day up 0.8%. With a loss of 0.5% on Monday and closing down 0.2% on Tuesday, it looks like CBA will close the shortened trading week down some 0.3%. ....