FED:Govt to ban mortgage exit fees

AAP General News (Australia)
12-12-2010
FED:Govt to ban mortgage exit fees

The federal treasuer's anticipated banking reform package will be unveiled shortly.

It's expected to ban exit fees from mid-2011 and boost competition in the sector.

treasurer WAYNE SWAN says the reforms should help Australians get the best deal they
can from lenders.

The banks say the measures will hurt small lenders.

Mr SWAN is scheduled to address the media at Midday (AEDT) today.

AAP RTV ees/ao/sw

KEYWORD: BANKS (MELBOURNE)

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