14 October 2019
Australia’s banks stand ready to assist the ACCC in this inquiry. Banks are no stranger to public scrutiny and look forward to the opportunity to cast more light on mortgage pricing and the many important factors that influence the setting of interest rates.
The first priority of Australia’s banks is the implementation of the Royal Commission. Banks are also working night and day to prepare for the Consumer Data Right to empower customers to more easily shop around for the financial service that best meets their needs.
ENDS
Contact: Rory Grant 0475 741 007
Latest news
E&OERadio InterviewABC Radio Sydney29 July 2026 Topics: ASIC report into offset accounts Thomas Oriti: Do you have an offset account? I think most people with a mortgage do. If you don’t know what I’m talking about, it’s an account that’s linked to your mortgage and it saves you interest. So, I’ll give you an example…. Read more »
E&OETV InterviewABC News29 July 2026. Topics: ASIC report into offset accounts Ros Childs: Borrowers are being advised to check if they have paid more interest than they should following an ASIC review. The two-year review conducted by the corporate watchdog has found weaknesses in how eight banks monitored and managed offset accounts, resulting in borrowers… Read more »
E&OETV InterviewDoorstop29 July 2026 Topics: ASIC report into offset accounts Journalist: Simon, what’s your reaction to the report from ASIC today? Simon Birmingham: ASIC’s report is really important and it’s welcomed by the banking industry. This report shows that in well over 99 per cent of cases, mortgage offset accounts are working exactly they should… Read more »