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Churn to follow exit fee abolition

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Australian Broker | 21 Mar 2011, 05:00 AM Agree 0
Vow Financial CEO Tim Brown has said the proposed ban on exit fees will only serve to increase churn
  • Chris | 21 Mar 2011, 01:15 PM Agree 0
    We in the finance industry, call it 'churn' - the power to move the same loan around to get the best rate each time and generate income (albeit to protect the clawback)and we know how it works but Pollies clearly don't have a clue how it works - they call it 'competition' and see it as way to buy votes.
  • Tony Stevens | 21 Mar 2011, 01:21 PM Agree 0
    the banks may wish to review their trail comms as a means of securing their clients for the long term. look at the the situation in England for som cues.
  • donkuok | 21 Mar 2011, 02:07 PM Agree 0
    Anyway, some of the non-bank lender has already remove this component.
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