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Big four banks are in the ACCC’s sights

Over the past year, a range of penalties have been imposed on businesses doing the wrong thing by their customers.

How banks treat their customers will now be placed under the spotlight.

The Australian Competition and Consumer Commission (ACCC) has laid out their agenda for 2018 and the big four banks are at the top of the list.

Chairman of the ACCC, Rod Sims, joins Ross Greenwood.

“We’re certainly looking at how banks make their decisions on mortgage pricing, how competitive the market is and how they trade off the interests of their customers and their shareholders.

“We can use our information gathering powers to look at bank decision making in ways that others can’t.

“We’ll certainly be looking at the ease of customer switching and what the barriers are.”

Click PLAY below for the full interview