Australia’s biggest credit union backs reforms

Credit Union Australia chief executive officer Rob Goudswaard applauded the government for accepting most of the recommendations from the Financial System Inquiry.

Mr Goudswaard said the FSI recommendations will enhance the integrity, competition and transparency of the financial system in Australia.

The good news for consumers is that there will be a stronger focus on competition and a commitment to review competition in the financial system by the end of 2017.

Mr Goudswaard also acknowledged the government’s decision to not proceed with a levy on deposits.

Source: Mortgage Business