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Mastercard's APAC head was "perfectly comfortable" with the threat of removal of discounted interchange rates to cut a deal with Coles to route transactions through its payment network, a court has heard.
A judge has imposed a $1.55 million penalty on car finance lender Money3 in ASIC's action alleging breaches of responsible lending obligations, criticising the regulator again for its "sprawling" case.
Construction PRO
A Phoenix Property Investors special purpose vehicle has won a $57.75 million judgment against developer Rockdale Central Finco in a dispute over financing related to the construction of 50 residential apartments in a southern Sydney suburb.
ASIC has imposed its tenth ban on an adviser for directing clients to invest their super in the Shield and First Guardian Master Funds.
HSBC won't defend ASIC proceedings alleging it failed to protect customers from scams that resulted in $23 million in customer losses.
The Victorian Supreme Court has rejected a bid by gold sellers Sun Capital Investments and Australian Gold Capital to stop Westpac from closing its bank accounts, finding there was no serious question to be tried.
Latitude Finance has been hit with a $3.96 million penalty for sending more than 2.3 million marketing messages that ran afoul of spam laws, the latest legal headache for the country's largest non-bank lender.
Mastercard has hit back at the ACCC’s claims that it sought to prevent competition with EFTPOS through strategic agreements with large retailers, saying the deals were struck for “benign and pro-competitive” reasons.
Bentleys Wealth is suing a former director and his companies alleging he poached clients after leaving the firm, in breach of his employment agreement and various duties.
Mastercard made ‘strategic’ agreements with large retailers like Coles and David Jones to keep them from routing through EFTPOS, offering discounted exchange rates that left smaller businesses footing the bill, the ACCC told the court on the first day of trial.