Banks are changing the way they are selling debt to collection agencies.
#NAB #Banking #HeiseSays NAB profits plunge. References https://www.nab.com.au/content/dam/nabrwd/documents/reports/corporate/fy19-investor-presentation.pdf ‘Disappointing’: NAB profits tumble 10.6 per cent, executives miss out on bonuseshttps://www.smh.com.au/business/banking-and-finance/nab-profits-tumble-10-6-per-cent-as-customer-compensation-costs-bite-20191107-p5385q.html
#Recession #Economy #HeiseSays Are we heading towards a global recession? References Boom, doom and gloom: The forces uniting Australia and the United States https://www.abc.net.au/news/2019-10-28/forces-uniting-australia-and-the-usa-are-the-market/11644400?section=business
#Banks #Profits #HeiseSays The profits of the big four plunge. References Banks’ messy results will not cloud the not-so-pretty picture https://www.abc.net.au/news/2019-10-27/banks-messy-results-will-not-cloud-the-not-so-pretty-picture/11639074?section=business
#CashBan #Economy #HeiseSays Can the Cash Ban be stopped in the Senate? References https://www.treasury.gov.au/consultation/c2019-t395788 https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r6418 https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/CurrencyCashBill2019 Cash-ban law under review as MPs argue it would push people into ‘clutches of the banks’, restrict freedom https://www.abc.net.au/news/2019-10-25/cash-ban-law-under-inqury-post-mp-concerns-on-freedom-breach/11640124?section=business
#CashBan #Economy #HeiseSays The $10,000 Cash Ban just passed the third reading in the house of reps. We need to #ShiftTheWindow and get greater diversity in the house of representatives. References https://www.aph.gov.au/news_and_events/watch_parliament
#Economy #Recession #RBA Major banks around the world are adopting UN principles for societies goals. References https://news.un.org/en/story/2019/09/1046982
#Banking #Money #Economy The public is beginning to learn that private Banks are “printing” money out of thin air. References https://www.theaustralian.com.au/nation/politics/big-four-banks-just-creating-piles-of-money/news-story/c87faa72a76d3bd2143fe0d6b088186f
#APRA #BankBail-In #Bail-In Bank Bail-Ins is a drastic measure that seems to punish savers while absolving bankers of risky and foolish behaviour. Let’s look at what a bail-in is and the human cost from the Cyprus Experiment in 2013. Then ask yourself if you trust our leaders in Australia that are telling us not to […]
#DeutscheBank #Equity #Investment With Deutsche Bank firing 18,000 people one must ask, is this only the beginning? How will it affect the Australian banking sector?