Scott Morrison

Australia to push through tougher rules for bank executives

Sydney (Reuters) - Australia's prudential regulator should be given powers as soon as October to cap bank executives' salaries, delay their bonuses and drive them out of the industry if they were guilty of wrongdoing, Treasurer Scott Morrison said on Monday.<p>The government is pushing ahead with …

Australian Prudential Regulation Authority

Treasurer doubles down on bank executive pay

Treasurer Scott Morrison says the federal government will not be dissuaded from plans to regulate the pay of bank executives, saying the legislation …

Australian News

MPs won't let up on banks despite fee cut Yahoo7 News

Treasurer Scott Morrison says banks still have work to do.<p>The federal government will keep an eye on the big four banks amid concerns they could shut …

Australian News

Australian banks drop ATM fees

Australian consumers will no longer face charges when using another bank’s cash point after the country’s four major banks dropped ATM withdrawal …

Banking

Malcolm Turnbull faces off with gas companies to fix looming shortfall

Giant gas companies have one more chance to help ease the energy crisis before the government steps in and controls what they export.<p>Two new reports, …

Australian News

Credit card rates, late fees should be next move by banks: ScoMo

Federal Treasurer Scott Morrison said the banks will soon move to lower exorbitant credit card interest rates and other annoying fees such as for …

Banking

Scott Morrison hints banks might move on credit card charges next

Treasurer Scott Morrison. Photo: Stefan Postles/ Getty.<p>Australia’s big four banks may look at changes to credit card charges next as the Turnbull …

Banking

Australian Banks to Scrap Cash-Machine Charges for All Customers

Australia’s four largest banks have scrapped cash withdrawal charges for all users, as the banking industry tries to salvage its reputation after a …

Banking

Banks ditch ATM fees, but calls for a royal commission remain strong

What else will the banks do to avoid a royal commission?<p>It is estimated Australians will save hundreds of millions of dollars now that the big four …

Australian News

Treasurer gives banks rare pat on back

It's not often these days that Treasurer Scott Morrison has a good word for Australia's big banks.

That annoying $2 fee for using another bank's ATMs is about start disappearing

Photo: Cameron Spencer/ Getty Images.<p>The annoying $2 charge when non-customers withdraw from an ATM looks set to end after the Commonwealth Bank …

Banking

ATM fee abolition fails to quell royal commission calls

Australia's top four banks have been warned against trying to pass on costs after they stampeded to dump about $500 million in ATM fees as part of a …

Australian News

Treasurer cracks down on Australia's banks

Treasurer Scott Morrison has unveiled tough new accountability measures that will force bank bosses to defer their pay.<p>Under a draft of Bank …

Treasurer unveils BEAR trap for bank boss pay

Bank bosses will be forced to defer almost half of their pay for four years and the banks will be subject to fines of up to $210 million under tough …

Australian News

No reason why Australia should not be a global leader in the fintech sector

by Scott Morrison<p>Digital disruption in financial services is changing the world.<p>The opportunities that spring from this disruption, in a region with …

FinTech

Big banks benefitting from regulations: ACCC

The competition watchdog has expressed concern that big four bank profits are being boosted by regulation rather than the lenders' own …

Banking

Scott Morrison's claim that living standards improve will be met with a hollow laugh

The growth of household living standards is falling. To turn this around we don’t need profits to soar like they have in the past year, we need real wages to start growing<p>If there is one aim of economic policy it is to improve living standards. There isn’t much point to improving productivity, …

Economics

A coffee a year

Australian household incomes have grown by less than the price of a coffee a year since 2008 and the Reserve Bank has warned workers to expect …

Economy

Religious freedoms are a priority: Morrison

The Treasurer says protecting for religious freedoms will be a priority for the Government, if a 'yes' vote is returned in the same sex marriage …

Same-sex Marriage

Poor banking due to 'lack of competition'

Small banks believe a lack of competition is contributing to inappropriate conduct by bigger rivals and poor quality products for their customers.<p>In …

Banking

Cabinet opposed marriage bill release: Dutton

Conservative Liberal frontbencher Peter Dutton says the cabinet made a firm decision not to release full details of same sex marriage laws until …

Equality

Treasurer Scott Morrison backs market to drive social service delivery

Treasurer Scott Morrison says a new social impact investment fund managed by Social Ventures Australia will help drive better social services …

Australian News

Marriage equality: Scott Morrison says he wants religious protections if 'yes' wins

Treasurer says opponents of same-sex marriage should ‘not be intimidated’ out of voting no in postal survey<p>Scott Morrison has issued a warning shot that he will be “very forward leaning” in arguing for religious protections if the same-sex marriage postal survey returns a yes vote, as the Equality …

Equality

New York Denim Days Festival Set to Open Sept. 30

New York Denim Days will make its debut this fall on Sept. 30 through Oct. 1.<p>New York Denim Days, a denim industry festival, will make its debut this …

Denim

Confusion over assets clarified with China

China understands that it simply cannot buy certain Australian assets if it's not in the national interest, Treasurer Scott Morrison insists.

China

Coal not even popular in coal-dominated electorates

Voters situated around the Liddell power station are already looking beyond coal to cleaner power sources and tend to blame the federal government …

Australian News

AGL power plan must be detailed: Morrison

Treasurer Scott Morrison has warned energy giant AGL its plan to replace the coal-fired Liddell plant must include a commitment on power prices and …

Climate

No need to detail religious threats up front: Scott Morrison

Treasurer Scott Morrison has rejected calls by other high-profile opponents of same-sex marriage that the supposed threat to religious freedoms …

Australian News

Australian tourism may suffer from Chinese investment restrictions

<b>Beijing:</b> Australia's tourism industry could be hit by new Chinese government restrictions on companies investing overseas, the Turnbull government …

China

Australia, China Seek to Boost Economic Ties as U.S. Pulls Back

Australian and Chinese officials held talks in Beijing Saturday aimed at tightening trade and economic ties between the two countries, just as the …

China