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More than half (55 per cent) of Tasmanian households with a mortgage are in financial distress, according to new data from consumer advocate group CHOICE.

The government said that it would continue to work with the Senate crossbench on responsible lending reforms after senator Jacqui Lambie said she would not support the repeal of the obligations.

Dollarmites: Queensland bans school banking program after scathing ASIC report Money by James Hall 27th Apr 2021 8:56 AM Queensland has become the latest state to ban the Commonwealth Bank's school banking program following a scathing review by the corporate regulator. The state's Education Minister Grace Grace said the decades-long Dollarmites program failed to provide financial literacy to students and wouldn't be renewed when the contract expired in July. The call to end the 50-year initiative from the major bank follows t...

How a $10bn banking program came undone For 90 years the Dollarmites program was a school staple, but at some point it attracted big name opponents who have championed its downfall. Business by Cliona O’Dowd Premium Content Subscriber only For nearly a century, Commonwealth Bank's Dollarmites program was aimed at teaching school kids a life-long lesson to save. A staple in most primary schools across the country, the junior banking program, in place since 1931, encouraged students to get into the habit of setting money aside at a young age. But at...