Sun, 12th Oct 2025

In this episode of Financial Services Online's Daily News Wrap, we cover financial developments in Australia, starting with a comprehensive review of the motor vehicle finance sector by the Australian Securities and Investments Commission. The probe targets loan defaults and dispute resolution practices, particularly focusing on remote and indigenous communities. In the banking sector, Macquarie Group's Banking and Financial Services division is transferring its $1.5 billion car loan portfolio to Allied Credit, enabling it to focus on home loan and digital banking services. In an eco-driven move, Bank Australia announces cessation of loans for fuel-powered vehicles, promoting a shift towards electric vehicles. We conclude with Crusader Caravans, earning the Manufacturer of the Year title for the fourth time due to their excellence in design innovation and customer support.n