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- Volume a worry in 2011: brokers, RBA too-quick on rates: BIS Shrapnel
- Fixed rates gather appeal: Mortgage Choice
- It's now or never for licence applications: Advantedge
- Brokers rate Commonwealth Bank 1 Bankwest 2, Swan determined on Fifth Pillar
- Mortgage brokers save Aussies from lenders: Mortgage Choice survey
- No need for Fifth Pillar: Citibank
- It's a Macquarie Day - Brown to replace Zulman at Vow, Bank stakes major claim in Bluestone
- Loanworks Technologies in Smartphone Portal release
- Non-bank lenders fight back; AFM cuts rate, AFG launches securitisation business
- Prevent price collusion? Ludicrous: NAB
- Treasurer misses the real issue: Ormond
- Mortgage Choice set to stir up mortgage market competition
- Non-bank sector will perish without capital source: MFAA
- Big Four dominate
- No rule against marauding Big Four on rates
- Auction clearance rates down
- Big Four claims manipulated, AFG’s 3-point competition plan
- Broker's prison sentence appeal dismissed
- Greedy Big Four gorge, Mutuals feel exit fee pinch
- ING DIRECT, AFM up the ante
Prevent price collusion? Ludicrous: NAB
By Tim Neary
November 26, 2010
By Tim Neary
November 26, 2010
NAB chief Cameron Clyne has spoken out against the coalition's proposed measures to prevent price collusion among major banks, calling them ludicrous.
The coalition intends to introduce legislation into parliament next year seeking to stamp out anti-competitive behaviour between the big four banks, including cracking down on price signalling that leads to price collusion.
But in dismissing the suggestion, Clyne said measures to stop collusion would prove counter-productive, according to a report in SMH.com.au.
Instead he felt the industry needed to be accountable for the decisions it made, and it needed to be transparent.
''[This legislation] will keep consumers in the dark," he said.
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