The ABA has supported the move saying it will increase competition and choice
The milestone brings the group closer to “revolutionise the way Australians think about banking”
Figures also show interest-only loans have dropped by 50% since last year
“We’re not perfect but we are not conflicted about who we are working for”
A survey has looked at the increasing negative sentiment as borrowers head to P&I
The changes would ensure banks have adequate financial resources in the event of failure