Australian Broker forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Big banks may be forced to participate in Comprehensive Credit Reporting

Notify me of new replies via email
Julia Corderoy | 15 Dec 2014, 08:20 AM Agree 0
Big banks may be forced to participate in Comprehensive Credit Reporting recommended in David Murray’s Financial Services Inquiry, despite their resistance to do so
  • Denise Brailey BFCSA (Inc) | 15 Dec 2014, 12:34 PM Agree 0
    How could the public even trust the banks would fill in forms correctly? They tweak loan apps during their internal processing system. They creatively skew the default figures or credit impaired as APRA warned them in 2012. Even the regs do not trust banks. The point is Murray's Inq only produced watery recommendations. The Government does not have to accept them. My bet is the Government will not adopt very few recommendations. Last thing they want is political debate. That is why a Royal Commission into Banking and Finance is urgently required. Consumers of bank products deserve a fair go. Maybe Senator Dastyari can dig deeper in March.
Post a reply