Borrow

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According to the Reserve Bank (RBA), several major banks will not be able to meet the current timeline for the launch of the PayTo service.

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The new PayTo service, which is set to modernise the existing direct debit system as part of the RBA’s New Payments Platform (NPP), is facing delays after a number of banks indicated they will not be ready to launch in July as previously planned.

In a speech to the Real Time Payments Summit on Tuesday, RBA head of payments policy department Ellis Connolly said that “several of the major banks” had indicated that they could not meet the existing timeline committed to by the industry.

“We recognise the considerable effort and investment required to develop PayTo, and the challenge of delivering multiple key payment initiatives at the same time,” he said.

“Nevertheless, these delays will significantly limit the availability of the service and the realisation of the benefits for end users.”

Mr Connolly explained that PayTo would provide a convenient and secure way for households and businesses to authorise third parties to initiate NPP payments from their accounts while giving customers more control.

“PayTo is a way to provide the payment initiation functionality that was envisaged under the Consumer Data Right. It will also open up new opportunities for innovation and has the potential to provide significant benefits for end users,” Mr Connolly said.

RBA governor Philip Lowe has written to the CEOs of the relevant banks to seek assurance that they will be ready to launch PayTo by no later than April next year.

“To realise the full potential of PayTo, we also expect the banks to make the service available for their entire customer base,” added Mr Connolly.

As part of the current NPP roadmap, Mr Connolly also flagged the benefits of the new international payments business service that will enable the Australian dollar leg of inbound cross-border payments to be processed by the NPP.

“In particular, additional data about the sender will be provided with the payment, making it easier for payment service providers to meet their compliance obligations related to financial crime. This service will result in safer and faster cross-border payments,” he said.

Mr Connolly noted that the RBA expects the industry to remain committed to delivering the international payments business service next year.

A total of 107 financial institutions currently offer NPP payment services for almost 90 million customer accounts, and the NPP processed more than a billion transactions worth more than $1 trillion during the past year.

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From financing a credit card debt to deciding on a home loan, Nest Egg’s got your back! " ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2022-05-04 00:15:48" ["slug"]=> string(58) "18273:modernisation-of-direct-debit-system-suffers-setback" ["parent_slug"]=> string(16) "271:borrow-money" ["catslug"]=> string(11) "275:banking" ["event"]=> object(stdClass)#7424 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(0) "" ["afterDisplayContent"]=> string(0) "" } ["text"]=> string(348) "

According to the Reserve Bank (RBA), several major banks will not be able to meet the current timeline for the launch of the PayTo service.

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A surge of refinancing is anticipated in the next couple of years.

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The unwinding of low fixed rate home loans from the major banks, made available thanks to the Reserve Bank’s (RBA) term funding facility (TFF), is tipped to result in hundreds of billions of dollars in mortgages being refinanced during the coming years.

Australia’s banks accessed a total of $188 billion of funding from the TFF before it closed to new drawdowns in March last year. The facility provides low-cost three-year funding and will continue to support low borrowing costs until mid-2024.

The RBA estimated that the TFF, alongside other assistance provided during the COVID-19 pandemic, had resulted in rates being cut by between 100 and 115 basis points.

As such, according to Nano digital home loans CEO and founder Andrew Walker, Australia is “sitting on the edge of the cliff of the fixed rate roll over”.

He noted that the Commonwealth Bank (CBA) had previously indicated $53 billion of fixed rate mortgages were expected to roll over into variable rates in the second half of 2023 alone.

“Assuming the other major banks mirror the same structure as the CBA, we could expect to see $400 billion in fixed rate mortgages rolling off into a variable interest rate in the next couple of years,” Mr Walker said.

“If market expectations of rising rates are correct, these will be significantly higher, leading to a sharp lift in repayments. We expect those customers will be hungry for better, fairer rates and will look to the newer, digital players such as Nano to refinance.”

With interest rates now set to begin rising, mortgage holders have also sought to lock in the current low rates with total refinancing of $14.28 billion per month according to data from the Australian Bureau of Statistics (ABS), up 18.7 per cent on the year.

Mr Walker said that Aussies were given the choice of switching their home loan provider or potentially paying a ‘loyalty tax’ by sticking with their existing lender.

With a series of rate hikes anticipated in the coming months, mortgage holders are now set to face thousands of dollars in extra repayment costs per year.

Based on a $500,000 loan with a 25-year term and a variable interest rate of 2.7 per cent, Savvy found that a rate hike of 1 percentage point would result in monthly repayments rising to $2,557 from $2,294, adding up to an additional $3,156 over the course of a year.

This could add to the 584,000 mortgage holders who were already considered at risk of mortgage stress in a Roy Morgan survey late last year.

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A surge of refinancing is anticipated in the next couple of years.

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Australians have little trust in organisations keeping their information secure, but the financial services industry still sits atop the list.

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A new report by digital security software and services company Imperva, which surveyed 1,004 Australians, found that 43 per cent of people trust those in financial services with their most valuable and sensitive data.

Financial services beat out other industries that included healthcare and government (37 per cent) and messaging services, social media, streaming services online gaming and retail which all attracted a score of less than 10 per cent.

Around 48 per cent of those surveyed that favoured financial services were over 45 years of age, while 38 per cent came from the 18 to 44 age bracket.

However, 37 per cent said they would never share their personal information, such as wage, savings and bank account details, on a digital service or app.

Meanwhile, 39 per cent said their trust in digital service providers to secure their data has decreased in the past five years and 51 per cent would stop using a company’s services altogether if they suffered a serious data breach.

“Organisations face a complete breakdown of trust unless they begin rebuilding now,” Imperva’s area vice president for Australia and New Zealand, Tony Mascarenhas, said.

“While organisations rush to introduce more digital innovations, it is vital they don’t overlook the potential security risks these new technologies create. Data breaches can have a real and lasting impact - from downtime and fines to loss of revenue and damaged brand reputation.

“Prevention is always going to be better than the cure, which is why data-centric security must be part of every organisation’s strategy in 2022.”

The findings come after ASIC alerted consumers about a rise in investment scams impersonating companies or financial investment firms in March.

The corporate regulator warned that scammers often make contact through Gmail and Outlook email accounts and that their contact details do not match the information published on the legitimate company’s website.

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Australians have little trust in organisations keeping their information secure, but the financial services industry still sits atop the list.

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["label"]=> string(14) "Embedded Video" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } } ["link"]=> string(93) "/borrow-money/banking/australians-trust-in-digital-providers-has-decreased-in-last-five-years" ["image"]=> string(50) "images/article-826x550/financial-technology-ne.jpg" ["image_alt"]=> string(17) "digital providers" } [3]=> object(stdClass)#7040 (56) { ["id"]=> string(5) "18249" ["title"]=> string(52) "‘Liar loans’ most prevalent at ANZ, survey finds" ["alias"]=> string(45) "liar-loans-most-prevalent-at-anz-survey-finds" ["introtext"]=> string(295) "

UBS has identified an increase in factual misstatements coming from ANZ’s mortgage customers.

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A survey of residential mortgage customers conducted by UBS has revealed that 55 per cent of those who took out a home loan with ANZ during the last six months had made misstatements on their mortgage application.

This was in contrast to the slight improvement in the share of misrepresented loans identified overall to 37 per cent, down from 41 per cent in 2020.

“We think this is particularly concerning, given ANZ's persistent declines in mortgage market share, and the fact that 81 per cent of the 93 respondents who misrepresented their ANZ originated loan claim they were advised to do so by their banker,” UBS said.

“ANZ's continued deterioration is at odds with the broader improvement in bank originated loan factual accuracy in 2022 across other major and regional banks.”

Westpac had the next highest proportion of factual misstatements among the major banks at 40 per cent, down from 41 per cent a year earlier, while a decline from 36 per cent to 30 per cent was recorded for the Commonwealth Bank (CBA).

Notably, NAB saw a major decline in factual misstatements from 46 per cent in 2020 to just 19 per cent, while misstatements at other banks fell from 38 per cent to 33 per cent.

Around 62 per cent of respondents said that their banker had suggested they under or over represent on their mortgage application, up from 22 per cent a year ago.

UBS said it was “alarming” that 92 per cent of the 12 survey respondents who misrepresented their AMP originated loan had claimed that they were advised to do so by their consultant.

Suggestions to misrepresent were much lower among the other three major banks, including 44 per cent for Westpac, 40 per cent for CBA and only 21 per cent for NAB.

In terms of the areas of factual inaccuracy, 33 per cent of respondents said they had underrepresented living costs, 22 per cent had underrepresented financial commitments, 17 per cent overrepresented income and 17 per cent over declared other assets.

Are customers vulnerable to higher interest rates 

UBS also explored the vulnerability of mortgage holders to looming higher interest rates and found that 51 per cent of respondents were three or more months ahead on their repayments and 42 per cent said that they had emergency funds to cover 3 to 6 months of repayments.

Additionally, 39 per cent of respondents said that their total household spend was well below their household income.

“Our overall conclusion is that front-book borrowers, which are arguably higher risk, have [the] capacity to withstand rising interest rates, although there are pockets where stress could emerge with RBA hikes exposing some vulnerability,” UBS said.

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From financing a credit card debt to deciding on a home loan, Nest Egg’s got your back! " ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2022-04-28 00:20:44" ["slug"]=> string(51) "18249:liar-loans-most-prevalent-at-anz-survey-finds" ["parent_slug"]=> string(16) "271:borrow-money" ["catslug"]=> string(9) "277:loans" ["event"]=> object(stdClass)#7457 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(0) "" ["afterDisplayContent"]=> string(0) "" } ["text"]=> string(295) "

UBS has identified an increase in factual misstatements coming from ANZ’s mortgage customers.

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The Commonwealth Bank (CBA) board has announced a successor.

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On Wednesday, 27 April, the big four bank announced that Catherine Livingstone AO has decided to retire from the board effective August 2022.

The board has confirmed non-executive director Paul O’Malley as Ms Livingstone’s successor who will take on the position from 10 August 2022.

Ms Livingstone joined the CBA board on 1 March 2016 before becoming chair on 1 January 2017.

“I have been honoured to serve as CBA’s chair through a time when the bank has addressed a number of complex challenges and in doing so, rebuilt is reputation as an organisation that seeks to deliver positive outcomes for its customers, people and shareholders,” Ms Livingstone said.

“During the coronavirus pandemic, CBA has demonstrated unequivocally that a strong, stable, well-capitalised banking sector is vital to Australia’s economic and social wellbeing.

“It is a tribute to the efforts of CBA’s 48,000 people that they have been committed to transforming the organisation into a simpler and better bank clearly focused on its customers.

“The group has made significant progress on this strategy which focused on CBA’s core banking businesses. This has enabled the bank to build on that foundation and evolve its growth strategy to one of building tomorrow’s bank today – both for its customers and for the leadership role expected of it in supporting the transition of the Australian economy. 

“It is therefore an appropriate time to hand over to the next Chair to lead this ambitious agenda and guide the bank through its next phase,” Ms Livingstone said.

Mr O’Malley, who is also currently the chair of the CBA Board Renumeration Committee has been a board member since January 2019.

Prior to this, he worked as managing director and chief executive officer at BlueScope Steel from 2007 to 2017.

“It is a privilege to be appointed chair of the Commonwealth Bank,” Mr O’Malley said.

“With the support of the board, CEO and management team, I am absolutely committed to helping CBA build on the strong progress achieved over recent years under Catherine’s leadership and continuing to deliver rewarding outcomes for all our stakeholders.”

He continued: “I am looking forward to helping lead this vibrant and important organisation through its next strategic growth phase and delivering outcomes for shareholders, customers and communities."

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From financing a credit card debt to deciding on a home loan, Nest Egg’s got your back! " ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2022-04-26 23:01:39" ["slug"]=> string(52) "18244:commonwealth-bank-chairman-to-retire-in-august" ["parent_slug"]=> string(16) "271:borrow-money" ["catslug"]=> string(11) "275:banking" ["event"]=> object(stdClass)#7468 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(0) "" ["afterDisplayContent"]=> string(0) "" } ["text"]=> string(263) "

The Commonwealth Bank (CBA) board has announced a successor.

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The big four bank has responded to the penalty handed down last week.

Write comment (2 Comments) " ["fulltext"]=> string(2015) "

On Friday, 22 April, Westpac was ordered to pay penalties in the amount of $113 million for widespread compliance failures across multiple businesses, including its banking, superannuation, wealth management and insurance brands.

Justice Beach handed down the decision in the last of six separate civil penalty proceedings filed by ASIC against Westpac in November 2021, penalising Westpac $40 million for charging fees totalling over $10.9 million to more than 11,800 deceased customers.

Westpac responded to the penalty in a statement given to ifa on Tuesday, 26 April, saying all of the issues have been previously disclosed.

“Westpac acknowledges that the Federal Court has now heard all six civil penalty proceedings which were commenced by ASIC in November 2021 and ordered penalties in the amounts agreed with ASIC and previously disclosed.

“Westpac and ASIC jointly submitted agreed proposed penalties for each of the proceedings, totalling $113 million. These penalties have been substantially provisioned (together with anticipated legal costs) in Westpac’s Full Year 2021 results.

“Westpac again apologises to all affected customers. Remediation is now complete or substantially progressed.”

Following the decision last week, ASIC Deputy Chair Sarah Court said that over the course of 13 years, more than 70,000 customers have been affected by the bank's failures, either by being incorrectly charged or given the wrong information.

"The breaches found by the court in these six cases demonstrate a profound failure by Westpac over many years and across many areas of its business to implement appropriate systems and processes to ensure its customers were treated fairly," said Ms Court.

"Westpac, like all licensees, has an obligation to be honest and fair in its provision of financial services. Despite this, Westpac failed to prioritise and fund the systems upgrades necessary to help fulfil this obligation."

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The big four bank has responded to the penalty handed down last week.

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["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [9]=> object(stdClass)#7474 (32) { ["id"]=> string(1) "9" ["title"]=> string(17) "Third article URL" ["name"]=> string(17) "third-article-url" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-07-08 05:42:42" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#7174 (3) { ["data":protected]=> object(stdClass)#7177 (1) { ["relative"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#7176 (3) { ["data":protected]=> object(stdClass)#7179 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "3" ["label"]=> string(17) "Third article URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [4]=> object(stdClass)#7471 (32) { ["id"]=> string(1) "4" ["title"]=> string(9) "Video URL" ["name"]=> string(9) "video-url" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-19 05:54:21" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "1" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#7178 (3) { ["data":protected]=> object(stdClass)#7181 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#7180 (3) { ["data":protected]=> object(stdClass)#7183 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(4) "text" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(9) "Video URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [6]=> object(stdClass)#7472 (32) { ["id"]=> string(1) "6" ["title"]=> string(33) "Image Caption / Video description" ["name"]=> string(31) "image-caption-video-description" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-25 16:29:55" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "2" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#7182 (3) { ["data":protected]=> object(stdClass)#7185 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#7184 (3) { ["data":protected]=> object(stdClass)#7187 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(4) "text" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(33) "Image Caption / Video description" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [3]=> object(stdClass)#7467 (32) { ["id"]=> string(1) "3" ["title"]=> string(6) "Status" ["name"]=> string(6) "status" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-20 01:45:26" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "3" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#7186 (3) { ["data":protected]=> object(stdClass)#7192 (1) { ["options"]=> object(stdClass)#7190 (2) { ["options0"]=> object(stdClass)#7189 (2) { ["name"]=> string(8) "Inactive" ["value"]=> string(1) "0" } ["options1"]=> object(stdClass)#7191 (2) { ["name"]=> string(6) "Active" ["value"]=> string(1) "1" } } } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#7188 (3) { ["data":protected]=> object(stdClass)#7194 (10) { ["hint"]=> string(0) "" ["class"]=> string(9) "btn-group" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(5) "radio" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(6) "Status" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [5]=> object(stdClass)#7470 (32) { ["id"]=> string(1) "5" ["title"]=> string(22) " Essential information" ["name"]=> string(21) "essential-information" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-25 06:10:20" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "4" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#7193 (3) { ["data":protected]=> object(stdClass)#7196 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#7195 (3) { ["data":protected]=> object(stdClass)#7198 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(22) " Essential information" ["description"]=> string(35) "3 points that summarize the article" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [2]=> object(stdClass)#7480 (32) { ["id"]=> string(1) "2" ["title"]=> string(14) "Embedded Video" ["name"]=> string(14) "embedded-video" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-20 01:43:32" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "5" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#7197 (3) { ["data":protected]=> object(stdClass)#7200 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#7199 (3) { ["data":protected]=> object(stdClass)#7202 (10) { ["hint"]=> string(29) "Paste your embedded code here" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(14) "Embedded Video" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } } ["link"]=> string(54) "/borrow-money/banking/westpac-responds-to-113m-penalty" ["image"]=> string(31) "images/westpac-house-prices.jpg" ["image_alt"]=> string(0) "" } }