Mozo wants your views on bank reforms

Tuesday 14 December 2010

Article by Mozo

Financial comparison service has launched an online poll aimed at gauging Australians' reactions to the bank reforms announced by the government this week.

Mozo wants your views on bank reforms

On Sunday (December 12th), federal treasurer Wayne Swan unveiled the government's Competitive and Sustainable Banking reform package which outlines measures to increase competition in the Australian banking sector.

These include a ban on exit fees for new home loans and an inquiry into account number portability, among other reforms.

It is hoped the measures will make it easier for Aussies to compare home loans and switch to better deals, with the government confirming its aim of creating a new pillar in the banking system by supporting the mutual sector.

However, opposition treasury spokesman Joe Hockey has suggested that the banking reform package could simply be a political ploy by the government and has pledged to hold Mr Swan to his promise to lower interest rates and reduce bank fees.

Mozo's poll, which can be found here, aims to discover your views on whether the measures will make life easier for mortgage holders.

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