This episode of the Daily Financial Services News Wrap provides insights into the Australian financial services industry. It reveals concerns raised by the Australian Securities and Investments Commission (ASIC) about the lack of transparency and fairness in car finance lending practices following a report that shows nearly half of car loan defaults occur within the first six months. ASIC's response includes recommendations to its lenders on enhancing staff training and risk management, and improving consumer protection measures. The podcast also covers two major Australian banks, Bank Australia and Commonwealth Bank of Australia, who are forging paths towards greener vehicle financing with the former ending loans for new petrol, diesel, and hybrid cars and the latter offering discounted electric and hybrid vehicle loans to counteract high upfront costs.

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