Treasurer and Deputy Prime Minister Wayne SwanThe other big banks are still very quiet. Westpac, ANZ and National Australia Bank said they were shocked by the outrage shown towards the Commonwealth Bank and still haven't announced what their new mortgage interest rates will be. And it's costing them a fortune every day that goes by.
But wonders will never cease - the Senate is going to have an inquiry into the industry and Treasurer Wayne Swan has tentatively agreed to debate the banks with Joe Hockey. Behind the scenes, the Treasurer has been working on banking reforms which will be revealed next month. "When I've completed that, I'm more than happy to talk to the Australian people about why that's important and why Mr Hockey is just pulling a stunt" he said. He will also announce new rules this week allowing customers to challenge unfair exit fees on home loans.
What took them so long?
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