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Bank Fees

The big banks have been cashing in and exploiting everyday Australians for years.

I truly believe the Australian Government needs to do more to stop this massive rip off.

A report released by the RBA showed in 2008, the total fees collected by the banks hit a record $11.6 billion, up 8 percent from the previous year of $10.7 billion.

On the back of this sort of behaviour the banks also hit us up by not moving their interest rates in line with the Reserve Bank.
That’s why Family First has introduced legislation into the Parliament to stop this rort from continuing.

I believe tax payers shouldn’t be asked to help prop up the banks with the government’s bank guarantee and then be slugged again with higher than necessary mortgage repayments.

The banks need to understand that government assistance comes with responsibility.