Banking News

A Court case study - NAB abuses its position of power charging outlandish and unjustifiable fees, penalties and interest. Court rules against NAB.

The National Australia Bank claim to be the bank of small business — but they are anything but, explains Australia's leading exposer of bad banks, Associate Professor Evan Jones.

Banks and brokers are involved in widespread fraud. Loans are being given out almost willy nilly - often to people who can't afford them. The loan officer gets a bonus and lines up for a promotion. The bank victims have their lives destroyed. ASIC and its external dispute resolution arms FOS and COSL look on. It's time they acted in the people's interests.

Loan Application Fraud, Predatory Lending - Tools of the trade for NAB. Why don't the Courts and the Government go after banks behaving badly?

NAB once again under scrutiny from the corporate regulators for unconscionable conduct. Personal guarantees have to be explained to the customer, or the opportunity given to obtain independent legal advice. NAB's non-compliance is a breach of the Trade Practices Act.

More and more cases of NAB's predatory business practices are coming to light. Here the 7.30 Report exposes the massive damage deliberately inflicted on the Safetli family.

NAB cash earnings down 9%. $360 million foreign exchange scandal is only part of the story.

APRA investigation forces NAB CEO Frank Cicutto and Chairman Charles Allen to quit. APRA doesn't trust the board and management of NAB in light of the foreign exchange scandal.

Be very cautious when dealing with a bank like NAB. Particularly if you are asked to guarantee a loan.

The Federal Court has today declared that the National Australia Bank acted unconscionably in its dealings with a Tasmanian woman, Mrs Kathryn Ashton.