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Market Watch - March 2018

 

Commissioner Kenneth Hayne willbe diving straight into the quagmire of dodgy lending practises in the first week of public hearings.

All four of the major banks, aswell as Citi, are set to come under the blowtorch, with the commission publishing the specific case studies up for examination.

 Westpac and ANZ are also likely to come under fire over their car financing activities, Westpac will be in the spotlight for“unsuitable credit card limit increases”, while Citi’s imposition of international transaction fees will be looked at.

Other areas to be examined in the opening round of royal commission hearings include home loans, add-on insurance, and account administration.

Finally, and certainly not least, the commission expanded its case against CBA and will be examining claims by ASIC that the bank tried to rig a key interest rate – the bank billswap rate - on six occasions.

 
1/03/2018 6:44:00 AM

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