Does your bank put your interests first?
Banks that actually serve their customer’s interests should not fear proposed new laws that could see bank products, like accounts, loans and investment platforms temporarily banned.
Professor Kevin Davis, a member of the Government’s Financial System Inquiry said banks which are focussed on their customer’s needs have nothing to fear from new powers for the regulator.
The Australian Bankers' Association is cautiously supporting a targeted product intervention power for ASIC.
Source: The Age