ACCC to block future bank mergers

According to today’s The Australian Financial Review the move would be a result of increased political and consumer backlash over increased bank profitability.

The ACCC’s chairman Graeme Samuel also said the increased dominance of the Big Four banks could encourage anti-competitive behaviour, including signalling to one another how they plan to respond to cuts in the official cash rate.

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Written by Staff Reporter

Last Updated: 09 March 2022

Published: 14 April 2009