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ACCC takes on ANZ for round two

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Australian Broker | 11 Dec 2013, 07:00 AM Agree 0
The ACCC has appealed against the Federal Court's decision to clear ANZ of price fixing.
  • Positivity | 12 Dec 2013, 11:07 AM Agree 0
    Dear Justice of the Federal Court.

    Call me an expert witness if you like:

    ANZ absolutely "participates in" the market for mortgage arangement services.

    ANZ receives applications, ACTUALLY PROVIDES MORTGAGES, as well as paying and profiting from those who arrange and those who take out mortages.

    This IS participation

    Just letting you know as it might be relevant to the case.
  • George Caras | 14 Dec 2013, 04:17 PM Agree 0
    Obviously the banks compete with brokers, it's all about price! At the end of the day it's who provides the cheapest solution. If a broker sells the banks own products at a cheaper price the customers going to go with the broker everytime. This case is just yet another clear demonstration of how real competition is being weeded out of Australia by big business. The ACCC need to grow some teeth and the government needs to stop playing favorites.
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