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DEF ban to strip $140m from big bank pockets

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Australian Broker | 31 Mar 2011, 04:00 AM Agree 0
The ban on exit fees will translate to a $140m loss for the big four banks, it has been claimed
  • Lynne | 31 Mar 2011, 12:29 PM Agree 0
    They dont need to charged exit fees most of them Clawback commissions from their hardworking Brokers for up to 18 months or more so they have beendouble dipping anyway
  • Chris | 31 Mar 2011, 02:39 PM Agree 0
    Banks have already factored into interest rates by now any loss by nil DEFs. However, instead of the few in the past that paid the DEFs, all customers will be providing for it in their interest rates, ongoing for the life of the loan and the banks will be making much more than any of the one off DEFs they used to collect.
    So, thanks again Swanny oh one who depletes competition and buys votes at the cost of the same people you are lumbering with this price ........ a triple whammy for the public you could say.
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