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Payments System Board Update: February 2021 Meeting: Reserve Bank of Australia


Reserve Bank of Australia
At its meeting today, the Payments System Board discussed a number of issues, including:
The Bank’s Review of Retail Payments Regulation. The Board discussed some recent industry developments that are relevant to the Review, particularly relating to dual-network debit cards, least-cost routing, and scheme fees. The staff are continuing to gather information and consulting with stakeholders. It is expected that the Board will agree on draft conclusions for the Review at its May meeting, for publication soon afterwards.
Cyber risks to the Australian payments system. Members were briefed on the work being undertaken by the Bank (together with other CFR agencies) to oversee the management of cyber security risks in the financial sector. They discussed how the Bank can best support cyber resilience in the payments system in the context of the Government’s recently announced Cyber Security Strategy. ....

Investments Commission , Bank Review Of Retail Payments Regulation , Payments System Board , Retail Payments , Cyber Security , Australian Payments , Retail Payments Regulation , Regulator Performance , Reserve Bank Of Australia , Central Bank , Australian Securities And Investments Commission , Financial Sector , Digital Currency , Debit Card , முதலீடுகள் தரகு , வங்கி விமர்சனம் ஆஃப் சில்லறை கொடுப்பனவுகள் ஒழுங்குமுறை , கொடுப்பனவுகள் அமைப்பு பலகை , சில்லறை கொடுப்பனவுகள் , சைபர் பாதுகாப்பு , ஆஸ்திரேலிய கொடுப்பனவுகள் , சில்லறை கொடுப்பனவுகள் ஒழுங்குமுறை , சீராக்கி செயல்திறன் , இருப்பு வங்கி ஆஃப் ஆஸ்திரேலியா , மைய வங்கி , ஆஸ்திரேலிய பத்திரங்கள் மற்றும் முதலீடுகள் தரகு , நிதி துறை ,

CBA liable for overcharged interest - Royal Commission case study


Date Time
CBA liable for overcharged interest – Royal Commission case study
The Federal Court has made declarations that the Commonwealth Bank of Australia (CBA) made false or misleading representations and engaged in misleading and deceptive conduct on 12,119 occasions when charging a rate of interest on business overdraft accounts substantially higher than what its customers were advised.
The Court also made a declaration that on each of the 12,119 occasions that CBA breached s12DA(1) and s12DB(1)(g) of the ASIC Act, it also breached its general obligation as a financial service licensee to comply with financial services laws, in contravention of s912A(1)(c) of the Corporations Act. ....

Sean Hughes , Financial Services Industry , Commonwealth Bank , Royal Commission , Financial Services Royal Commission , Federal Court , Interim Report , Agriadvantage Plus , Australian Securities And Investments Commission , Financial Services , சீன் ஹக்ஸ் , நிதி சேவைகள் தொழில் , காமன்வெல்த் வங்கி , அரச தரகு , நிதி சேவைகள் அரச தரகு , கூட்டாட்சியின் நீதிமன்றம் , இடைக்கால அறிக்கை , ஆஸ்திரேலிய பத்திரங்கள் மற்றும் முதலீடுகள் தரகு , நிதி சேவைகள் , பதிவிறக்க Tamil ,