26 November 2013
The Customer Owned Banking Association (COBA) has called on the Financial System Inquiry (FSI) to address the “unfair advantages” enjoyed by the big four banks.
Following the appointment of ex-CBA boss David Murray as head of the FSI, COBA chief executive officer Louise Petschler said ensuring competition in the banking sector must be the focus of the inquiry.
“We need a regulatory framework that genuinely promotes competition and consumer choice,” she said. “This is a fundamental issue”.
Read more, COBA calls for an end to majors’ ‘unfair advantage’, The Adviser, Nov 22
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