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More regulation will stifle competition: Hockey

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Australian Broker | 15 Jun 2011, 06:30 AM Agree 0
Less regulation, not more, will increase banking competition, Shadow Treasurer Joe Hockey has told Australian BrokerNews
  • bradq | 15 Jun 2011, 09:44 AM Agree 0
    the problem now is that even if the DEF ban is reversed, ALL the lenders have extended their "clawbacks" and will not remove them .....So we the brokers have still lost...again.
  • derekmiles | 15 Jun 2011, 12:48 PM Agree 0
    Wasn't it the Opposition that mooted the extra charges by big banks was the problem to competition many months ago which prompted the Government to then introduce DEF bans. What short memories they have.
  • Broker | 15 Jun 2011, 03:35 PM Agree 0
    This DEF situation is just one big mess and there will be no winners here, other than the major banks of course.

    A real pity this Government is just too stupid to realize that a large percentage of customers that end up at non banks is often due to their credit policies not just price, and therefore they understand the need for a DEF and are happy to have this in their loan contracts as often there are no other options to obtain finance and the lender expects some loyalty for providing it.

    I just wish this Government would stop interfering with too many aspects of our life’s, and just concentrate on doing what labour Governments do , wasting 100’s of millions on grand schemes such as pink batts , set top boxes etc.

    Clearly understanding finance and how it all works is way too complex for these idiots, just where has that 20 billion dollar surplus gone?

    Roll on August 2012 so we can dispose of this rabble!

  • Martin Anstee PCL Money | 16 Jun 2011, 10:58 AM Agree 0
    The dogged approach to banning DERF's by Mr Swan against all advise may suggest that he or someone close to him has fallen fowl of the system and recognition of the benefits gained are blinded by personal experiences.
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