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CBA sitting pretty as ACCC announces no opposition to Aussie take over

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Australian Broker | 22 Mar 2013, 08:00 AM Agree 0
CBA says it's 'pleased' with the ACCC's decision to allow the lender's take over of Aussie Home Loans despite potential 'competitive constraint'
  • Wilko | 22 Mar 2013, 10:10 AM Agree 0
    Minz is just scared that competition will get even more intense.

    I think Aussie will have some very competitive product in the future and this probably scares the crap out of him.

    Good decision by the ACCC and shows the worth of the MB industry to the rest of the financial services industry.
  • Country Broker | 22 Mar 2013, 11:22 AM Agree 0
    This decision shows the ACCC have no real power or they will not use it in the national intertest or the best interest of the public in mind .
    The comments about there is no doubt tghe CBA will have an influence is so telling and yet nothing but an approval, just amazing !
  • Tony O | 22 Mar 2013, 12:13 PM Agree 0
    They say only 6% of Brokers in the market however, didn't say what percentage of the market Aussie has or business they write is !!!!
    Also, what sort of preferential treatment will they get in processing compared to the other 94% of brokers !!!
    Thought John was going to "stick it to the big Banks" !!! Think maybe he has "stuck it" to everyone else, but CBA !!! Including those that go to him to encourage the competition.
    ACCC need to have a good look at themselves and their decision.
  • Patrick | 22 Mar 2013, 04:00 PM Agree 0
    It is due to the flawed view of the ACCC as to what true competition is that we have lost the diversity offered by Bank West, Bank of New Zealand (now Homeside), Bank of Melbourne, Bank SA, St George, RAMS etc etc.
  • Bryce | 23 Mar 2013, 02:56 PM Agree 0
    I reckon while ever the Symonds are around there will be little change. Be interesting to see what happens when they finally exit the building!
  • SIDBROKER | 25 Mar 2013, 10:32 PM Agree 0
    WHAT ARE ACCC DOING. NOTHING THATS WHAT. WE DON`T NEED AN ORGANISTAION THAT WILL NOT STAND UP TO LARGE COMPANIES.
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