Australia's big four banks will be investigated after failing to pass on full interest rate cuts to consumers. Treasurer Josh Frydenberg has directed the Australian Competition and Consumer Commission to investigate the interest rate pricing of residential mortgages.
The banks will have to reveal their pricing practices after none of them passed on the most recent cut to customers in full but slashed interest rates for deposit holders. Small banks and non-bank lenders will also be included after the sector ignored cuts made by the Reserve Bank. The government has not ruled out policy changes or regulation, depending on the findings of the inquiry.
Why bother. It.s not like anyone was charged the last time. Why not just say naughty boy & give them another job.
They've been doing it for years. I bet LiberalAus are only investigating cos they and their buddies have some bank loans. auspol
BWAHAHAHAHAHAHAHAHAHA liberals investigating the banks? The liberals who voted against the royal commission 26 times want us to believe they would hold the banks accountable? The liberals work for the banks and against the Australian people
More tax money being spent, lets see the pathetic outcome, wanna bet?
If you binge spend as Australia has been doing since Whitlam and build up hundreds of billions of dollars in govt and private debt, reserve bank is only one source of money supply. Rest comes from overseas. Of course it’s easier to blame the banks because the public likes it.
You are just headlines with no substance
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Source: SkyNewsAust - 🏆 7. / 78 Read more »
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Source: SkyNewsAust - 🏆 7. / 78 Read more »
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Source: SkyNewsAust - 🏆 7. / 78 Read more »
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