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Australia Tightens Leash On Bank Execs

PYMNTS

Australia has introduced tougher rules on banks that will go into effect as early as next month, including capping executives’ salaries, delaying their bonuses and driving them out of the industry if they are guilty of wrongdoing.

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In Australia, Late Payments Hit SMBs During Holiday Season

PYMNTS

In further news tied to late payments in Australia, the Sydney Morning Herald reported that an ombudsman is likely to further scrutinize the use of supply chain finance, as the practice is used to pay smaller suppliers. As reported, suppliers can opt to be paid more quickly, but must often accept a discount for those timely payments.

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Liberal MPs pour cold water on inquiry backed by Frydenberg into bank lending for coal projects

TheGuardian

Related: Australia's banks are well placed to weather Covid crisis, RBA says Related: Nationals call for ANZ boycott after bank's push for net zero emissions Continue reading.

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In Australia, Late Payments Under Govt Microscope

PYMNTS

In Australia, scrutiny of late payments is deepening. As reported this past week, the country’s federal Labor Party issued a statement that it has brought complaints about lengthening payment terms to the Australian Competition and Consumer Commission (ACCC).

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Under the cover of Covid, Morrison wants to scrap my government's predatory lending protections | Kevin Rudd

TheGuardian

The PM wants to repeal laws my government introduced to protect Australians – and the banks are popping champagne corks Pardon me for being just a little suspicious, but when I see an avalanche of enthusiasm from such reputable institutions as the Morrison government, the Murdoch media and the Australian Banking Association (anyone remember the Hayne (..)

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Is blockchain startup Flux the answer to direct democracy?

Jessica Ellerm

This morning Australia woke up to a hung parliament and continuing uncertainty about its political direction. Others were speculating it was no more than a clever, first mover tactic from Shorten’s camp to flush out the non-believers from amongst the party elite. We certainly live in interesting times.

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Australian Government Discloses Sophisticated Attack On Parliament Computer Network

PYMNTS

Australian Prime Minister Scott Morrison said the computer network of the parliament in the country and those computers that belong to the Liberal, Labor and National parties were also targeted in the attack that went down a few weeks ago, according to a report in TechCrunch. election in 2016. election in 2016.

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