The House of Representatives economics committee yesterday launched an inquiry into the Australian banking system.
The inquiry, established at the request of Wayne Swan, will examine the state of the local mortgage market, the quality and value of bank and non-bank lenders’ home loan products as well as fees and charges.
The inquiry will also make recommendations to improve competition in the sector, which has suffered as a result of the freezing up of capital markets.
Submissions regarding the inquiry will be accepted until 11 July; the report is planned to be released by the end of the year.
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