Thu, 11th Jul 2024

The latest episode of the Weekly Finance News Wrap explores the recent trends in Australia's financial landscape. With surging utility bills affecting 34,700 Western Australians in the 2023-24 fiscal year due to increases in living costs, the episode emphasizes the residents, Synergy, and the state's approach to solve this crisis. It also discusses the alarming 1.6% increase in mortgage delinquencies in Q1 2024 due to uncertainties in the economy and housing market. Steps taken by banks in terms of flexible plans and possible government intervention are addressed. The episode wraps up with scrutiny of ANZ Bank, which has been charging fees to deceased clients' estates, affecting almost 19,000 estates between July 2019 and September 2023. The criticism of ANZs response and actions undertaken by it is highlighted. Other recent actions against banks are also noted.n