Labor promises more lawyers to battle banks 26/02/2019 | 1min Labor has committed to a new levy on big banks in a bid to give victims of banking misconduct easier access to legal advice if they
win the upcoming federal election. The federal government has dismissed the plan, claiming it hits business with further taxes that would only hurt the economy. Image: News Corp Australia Favourite
please ask Bill Shorten how he will stop the banks increasing interest rates and fees outside RBA movements to make up these costs. How, thats what Australians want to know. billshortenmp
60 billion profit the banks made last year. They can give back to the community seeming tax payers underwrite them.
So that’s about $2bn more debt promised by Bill already, and he’s not even in office yet. Imagine how much will accrue when he actually has his hands on the nation’s purse!
Already spending up big.
That's what we need, more lawyers.
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Labor announces reform to mortgage broker sector | Sky News AustraliaLabor has announced it will legislate a 'flat fee' for mortgage brokers, in an apparent backflip from its earlier pledge to enact all the recommendations from the banking royal commission.\n\nThe commission made 76 recommendations, with the most controversial being that borrowers would pay an upfront fee to mortgage brokers.\n\nThe move was designed to ensure brokers would not recommend an inferior product to the lender in order to secure a larger commission from the bank.\n\nAfter intense lobbying by the mortgage broker industry, Labor announced on Friday it will not implement the commission's recommendation for the sector and instead will ban trailing commissions from lenders to mortgage brokers and implement a flat fee.\n\nThe move comes as Labor leader Bill Shorten vowed to compensate victims of misconduct in the banking and financial sector, saying he plans to give Australians unprecedented new rights to demand payments to recover personal losses under a retrospective law to be passed if Labor wins the next election.\n\n\n RichardMarlesMP Cough... Cough.. RichardMarlesMP My God, I’m agreeing wi Mr Pyne On banking Royal Commission legalisation changes, we must tread cautiously. As for Richard Myles and Labor, they have only agree with 76 recommendations of the Royal Commission in principle, the government has agreed to go forward and legislate all
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Harsh Labor policy seeks to 'make the big banks pay' | Sky News AustraliaOpposition leader Bill Shorten has vowed to compensate victims of misconduct in the banking and financial sector, saying he will 'make the big banks pay'.\n\nThe plan seeks to give Australians unprecedented new rights to demand payments from the banking and finance companies to recover personal losses under a retrospective law.\n\nLabor's policy would also allow more consumers to apply for help, offering a longer timeframe in which to do so.\n\nConsumers will also be able to have their case reheard if they feel they've missed out due to a 'bad decision' by the ombudsman or courts.\n\nImage: News corp Australia\n\n\n\n\n Bowenchris Yeah, that’s realistic. not Bowenchris Listen up. It's the Treasurer. Bowenchris That flat rate will be! $100 for everyone except self funded retirees who will pay $5000.
Source: SkyNewsAust - 🏆 7. / 78 Read more »