Banks

The Commonwealth Bank has axed its fixed interest rates after returning dominant home lending figures.

Any bank customer that relies on tourism or farming in the bushfire-affected areas will be under some substantial pressure and it could lead to lower property prices and more defaults.

ASIC chairman James Shipton says auditors and superannuation trustees will be under more scrutiny and will face more enforcement action this year.

The tool is designed to help people better understand their financial position.

An ME Bank report has found Aussies are now feeling more positive and confident about the property market.

Australian Competition and Consumer Commission chairman Rod Sims says the gap is a show of disrespect from the banks towards their loyal customers.

Commonwealth Bank has stoked the fire of competition among the big banks by slashing its fixed interest rates by up to 90 basis points across its mortgage products.

If you go by the new Cutting through the Home Loan Crap report research from Aussie, they feel pretty good about them.

Banks are now offering some of the lowest fixed mortgage interest rates ever, with some dipping below 3 per cent.

In the wake of their big legal win against ASIC this week, Westpac has announced its plan to improve its loan policies.