What a great day for all consumers of mortgages across Australia.
No wonder Steven Munchenberg is "confident the banks are not involved in the Inquiry" The ABA has been obviously given assurances........ it's the bank influenced uplifting Terms of Reference that could be a worry for consumers. However BFCSA members will send a record number of submissions ever received by Parliament in the past.
The performance of the Australian Securities and Investments Commission
Terms of Reference
The performance of the Australian Securities and Investments Commission (ASIC), with particular reference to: (a) ASIC's enabling legislation, and whether there are any barriers preventing ASIC from fulfilling its legislative responsibilities and obligations; (b) the accountability framework to which ASIC is subject, and whether this needs to be strengthened; (c) the workings of ASIC's collaboration, and working relationships, with other regulators and law enforcement bodies; (d) ASIC's complaints management policies and practices; (e) the protections afforded by ASIC to corporate...
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WOW 999 HITS on this blog as at 11 am EST... and counting -
ASIC doesn't really care about the consumer they just refer complaints onto FOS and COSL who in turn just side with the banks and
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That's the impression I have as well. ASIC FOS and COSL are just a formality. Like the judge will say "did you try to resolve the
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I would love to have been a fly on the wall in the offices of ASIC after the grilling by Senator Williams. Wonder what will happen
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I was thinking the same thing, Jean. As mad as it sounds it would not surprise me if Kell said to his staff "that went well" and a