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Watchdog threatens banks on comparison rates

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Australian Broker | 16 May 2012, 07:00 AM Agree 0
A top broker has claimed comparison rates are unhelpful to consumers, as ASIC zeroes in on banks who are failing to correctly advertise them
  • Allan Faint | 16 May 2012, 10:04 AM Agree 0
    comparison rates would be usefull if more and more of the lenders were not finding ways to avoid publisising them. they are a starting point frtom there you can discuss the loan features included in each loan.
  • Country Broker | 16 May 2012, 10:07 AM Agree 0
    Must congratulate Peter White of ten FBAA on this, the banks seem to be getting slaps from ASIC instead of compliance enforcment why ?
    Also wonder why the MFAA has not been all over this , perhaps it is because the banks are members , if that is the case the the MFAA should be ensuring its own members are compliant with the NCCP regulations !
  • billy blogg | 16 May 2012, 11:19 AM Agree 0
    ASIC should force them to join MFAA so they can sort them out!
  • Broker | 16 May 2012, 11:44 AM Agree 0
    They were introduced years ago, amazing that this is still a topic, just demonstrates this industries incapability of putting simple issues to bed, is it any wonder that today's silly agenda is what it is, just one disorganised mess, with every do-gooder wanting to stick their nose in and reinvent the wheel once again, end the real benefit to consumer, marginal at best..
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