Yes Bankers in control of Engineering toxic products, the mortgage broker channel,
paying commissions and dodgy approvals....we know that AND Banks are in charge of
ASIC, APRA and Corp Cop Greg Medcraft.
Medcraft in favour of leaving everything toxic, as is, for another four years.
MFAA boss rejects Sedgwick review, slams commission reforms
21 April 2017
James Mitchell Friday, 21 April 2017 Comments 13
The association has warned that Sedgwick’s recommendations will give the banks “complete oversight” of brokers, erode independence, and further empower the major lenders.
The Mortgage & Finance Association of Australia (MFAA) has expressed serious concerns with some of the themes outlined in the Australian Bankers’ Association’s (ABA) Review, conducted by Mr Stephen Sedgwick AO, into commissions and payments, calling on banks to align with the “well-considered ASIC process” that is currently underway.
The association stressed that ASIC...