Australian government to tackle banks on mortgages
Sunday, January 13, 2008 In response to higher than expected mortgage rate increases last week, Australian treasurer Wayne Swan flagged changes to banking regulations to increase competition between lenders on home mortgages. Swan announced yesterday he had sought a Treasury report on the banking sector ahead of talks over the next fortnight on reforms to make it easier for bank customers to move mortgages between lenders by forcing banks to reduce exit fees, to “makeContinue reading