Nicola Field on Muck Rack

Nicola Field

Australia
As seen in: Money (Australia), The New Daily, EIN News, Socialist Worker, Socialist Review, 1206 2CC, Proctor
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Articles

The eye-watering profit your bank makes from your mortgage

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By Nicola Field
| Money (Australia)
Banks raking in six-figure loan profits, a $500 super deadline looming, and Gen Z shaking up investing. Here are five money stories you shouldn't miss this week. How your home loan delivers banks six-figure profits Research by The Australia Institute reveals the big four banks rake in about $228,900 profit over the 30-year life of an average $736,000 home loan. In the first year alone of an average first homebuyer loan, the big four banks make about $11,110 profit.
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$26 million: Westpac fined for failing struggling customers

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By Nicola Field
| Money (Australia)
Major bank penalised, super contribution deadline looms and do home security cameras really reduce premiums? Here are five things you may have missed this week. Westpac has been slapped with a $26 million penalty for failing to adequately respond to over 200 customers experiencing financial hardship between 2017 and 2023. The Federal Court described the failures as "grossly negligent".
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This IPO could make history, and Aussies can buy in

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By Nicola Field
| Money (Australia)
A potential history-making IPO, $5000 pet bills and billions in lost money, here are five money stories you may have missed this week. SpaceX IPO could be biggest ever SpaceX could be about to make stock market history, and Australian investors may get a way in. Elon Musk, CEO of SpaceX, has formally lodged paperwork with the US Securities and Exchange Commission to list his space company on the Nasdaq, setting up what could become the biggest IPO ever.
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