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Introducer program ‘contained’, insists NAB CEO
NAB’s introducer program has again been placed under the spotlight, with the financial services royal commission questioning the adequacy of the bank’s revised model
LENDER • Mon, 26 Nov 2018
Mortgage Choice, AFG call out CBA ‘bullying’
The CEOs of Mortgage Choice and AFG have criticised Commonwealth Bank CEO Matt Comyn’s support for remuneration reform, calling it a “thinly veiled” attempt to divert the ...
LENDER • Thu, 22 Nov 2018
‘Does he take us for mugs?’: Aggregator head blasts Comyn
The head of a major aggregator has refuted claims made by CBA CEO Matt Comyn, and has issued a call to action aimed at thwarting “maneouvring” designed to undermine the ...
AGGREGATOR • Tue, 20 Nov 2018
Industry slams ‘self-serving’ CBA
The mortgage broking industry has responded to Commonwealth Bank CEO Matt Comyn’s “anti-competitive” expression of support for a fees-for-service model.
LENDER • Tue, 20 Nov 2018
Major bank CEO backs fees-for-service model
The CEO of a big four bank has expressed support for a “consumer pays” model in the broking industry, which he claimed addresses perceived conflicts of interest.
LENDER • Mon, 19 Nov 2018
Flat commissions could eliminate ‘lender choice conflicts’: AFG
Legislating for the provision of standardised commissions could help eliminate conflicts that encourage lenders to use commissions as a “tool to influence brokers”, ...
LENDER • Tue, 13 Nov 2018
Regionals rally behind brokers in RC response
Australia’s regional banks have urged the financial services royal commission to consider the potential “significant negative implications” that changes to broker ...
BROKER • Tue, 13 Nov 2018
Major aggregator dismisses ‘surprising’ RC question
A major mortgage aggregator “cannot understand” why Commissioner Kenneth Hayne raised the question of broker “agency” in the interim report of the financial services ...
AGGREGATOR • Mon, 12 Nov 2018
Bank proposes introduction of standardised commissions
Introducing an industry standard commission paid to brokers irrespective of the lender would help remove perverse incentives, a regional bank has told the financial ...
LENDER • Sun, 11 Nov 2018