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After an initial period of extreme uncertainty, the rhetoric around the Australian property market appears to have shifted into a new phase in response to the ongoing coronavirus pandemic.

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On this episode of The nestegg Podcast, host Grace Ormsby is joined by the founder and CEO of Upside Realty, Adam Rigby, to delve into how COVID-19 has been affecting different demographics within the property sector, including renters, landlords, investors and retirees.

Adam touches on the pros and cons of potentially removing stamp duty, his predictions for marketplace trends over the coming months, and the importance of picking quality over timing when considering an investment.

Thanks Adam, for sharing your insights with the nestegg podcast team!

You can keep up to date with what Upside Realty are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Tuesday, 02 June 2020

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New rule book for Aussie banks

By Cameron Micallef · July 02 2019

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Invest

New rule book for Aussie banks

By Cameron Micallef
July 02 2019

Reading:

New rule book for Aussie banks

By Cameron Micallef · July 02 2019

Reading:

Following the royal commission into the finance sector, the Australian Banking Association has announced a new code of practice.

The Australian Banking Association said the new standards represent the most significant increase to customer protections under a code in the industry’s history.

Australian Banking Association chief executive Anna Bligh said customers should see the changes immediately.

“Whether it’s through your credit card, home loan, small-business loan or just day-to-day banking, Australian customers will see tangible benefits from this new code,” said Ms Bligh.

In addition, Ms Bligh noted the new code will be strongly enforced by an independent body known as the Banking Code Compliance Committee and the Australian Financial Complaints Authority.

“We’ve completely rewritten the rule book for Australia’s banks. The Banking Code of Practice has strong protections for customers, serious consequences for breaches and strong independent enforcement,” said Ms Bligh.

Financial Counselling Australia chief executive Fiona Guthrie said the new code will protect the most vulnerable, marking an important step forward in restoring community trust in the banks.

“Codes like this really can make a difference because they go beyond black letter law and instead reflect the standards that an industry voluntarily commits to,” said Ms Guthrie.

Banks have trained more than 130,000 staff on the new requirements in order to get them ready for these changes.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.