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Chapter 5 - Competition in the banking industry - winners and losers ...

aph.gov.au/Parliamentary_Business/Committees/Joint/Corporations_and...
This chapter discusses broadly the effects of competition on the provision of banking and financial services in regional, rural and remote Australia.

Competition within the Australian banking sector

aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/Completed...
Profitability and concentration in the banking industry. Reducing barriers to customers moving between financial intermediaries. Promoting more competitors. The securitisation market. Price signalling. Supervision of the financial system. Government guarantees for the financial system. Taxation and related measures.

Report: Competition within the Australian banking sector

aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/Completed...
Competition is the cornerstone of efficiency and productivity in any market. It promotes fair prices, enhances living standards and ensures that scarce resources are allocated to their highest value uses.1.

Appendix 3 – Require New Focus On Banking Competition

aph.gov.au/-/media/02_Parliamentary_Business/24_Committees/243_Reps...
3.1 The committee recommends that the Australian Competition and Consumer Commission, or the proposed Australian Council for Competition Policy, establish a small team to make recommendations to the Treasurer every six months to improve competition in the banking sector.

Chapter 9 – Parliament of Australia

aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/Completed...
In 2010, the Committee concluded that the best way forward is to increase competition within the existing commercial banks rather than pursue a development or rural bank or to convert Australia Post into a bank.

Review of Australia’s four major banks – Parliament of Australia

aph.gov.au/Parliamentary_Business/Committees/House/Economics/Ausfourmajorbanks
Following a reference from the Treasurer, the Hon Dr Jim Chalmers MP, the House of Representatives Standing Committee on Economics will hold annual public hearings with Australia’s four major banks, to examine how the major banks are balancing the interests of a diverse set of stakeholders, including borrowers, depositors, shareholders and ...

Chapter 2: Current issues in competition and consumer law

aph.gov.au/-/media/02_Parliamentary_Business/24_Committees/243_Reps...
The committee scrutinised the ACCC on its regulation of competition in the banking sector, energy markets and digital platforms. 2.3. Other matters discussed included petrol pricing, airport monopolies, consumer comparison websites, and the new car retailing and audit industries. Market concentration and competition. 2.4.

Committee Recommendations to Improve the Banking System

aph.gov.au/-/media/02_Parliamentary_Business/24_Committees/243_Reps...
Review the state of competition in the sector every three years, improve reporting of how regulators balance competition against their core objectives, identify barriers to cross-border provision of

Money Matters in the Bush: Inquiry into the Level of Banking and ...

aph.gov.au/Parliamentary_Business/Committees/Joint/Corporations_and...
Money Matters in the Bush: Inquiry into the Level of Banking and Financial Services in Rural, Regional and Remote Areas of Australia. Note: This page contains links to PDF files. For more information, see the web page on Accessing files.

Review of the Four Major Banks (Fourth Report) - Parliament of Australia

aph.gov.au/-/media/02_Parliamentary_Business/24_Committees/243_Reps...
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has revealed shocking examples of behaviour by Australia’s four major banks. The conduct has, in many cases, been contrary to law and has fallen well below community expectations.

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TOTAL RESULTS: 6

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  • Date
    15 Jun 2010 
    Chamber
    Senate 
    Status
    Not Proceeding 
    Sponsor
    BROWN, Sen Bob 
    Summary
    Amends the
    Banking Act 1959
    to: require banks to offer basic transaction accounts and to limit other fees to cost recovery; provide that transactions at a bank’s own-branded ATMs are free of charge; cap charges for the use of a bank’s ATMs by customers of another authorised deposit-taking institution (ADI); require ADIs to offer a fixed interest gap mortgage; cap mortgage exit fees at cost recovery; and require uniform identification of exit fees in advertising and mortgage contracts. 

    Bill | Explanatory Memorandum

  • Date
    15 Nov 2010 
    Chamber
    House of Representatives 
    Status
    Not Proceeding 
    Sponsor
    BANDT, Adam, MP 
    Summary
    Amends the
    Banking Act 1959
    to: require banks to offer basic transaction accounts and to limit other fees to cost recovery; provide that transactions at a bank’s own-branded ATMs are free of charge; cap charges for the use of a bank’s ATMs by customers of another authorised deposit-taking institution (ADI); require ADIs to offer fixed interest gap loans and mortgages; cap mortgage and loan exit fees at cost recovery; and require uniform identification of exit fees in advertising and in mortgage and loan contracts. 

    Bill | Explanatory Memorandum

  • Date
    30 Sep 2010 
    Chamber
    Senate 
    Status
    Not Proceeding 
    Sponsor
    BROWN, Sen Bob 
    Summary
    Amends the
    Banking Act 1959
    to: require banks to offer basic transaction accounts and to limit other fees to cost recovery; provide that transactions at a bank’s own-branded ATMs are free of charge; cap charges for the use of a bank’s ATMs by customers of another authorised deposit-taking institution (ADI); require ADIs to offer fixed interest gap loans and mortgages; cap mortgage and loan exit fees at cost recovery; and require uniform identification of exit fees in advertising and in mortgage and loan contracts. 

    Bill | Explanatory Memorandum

  • Date
    23 Feb 2011 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Amends the:
    Corporations (Aboriginal and Torres Strait Islander) Act 2006
    and
    Corporations Act 2001
    in relation to: Australian Securities and Investments Commission approved (compulsory and voluntary) transfers of estate assets and liabilities; ‘compulsory’ transfers of business to a public trustee; ministerial approval for listing a trustee company; holding out as a licensed trustee company; the term ‘authorised trustee corporation’; common funds and registered schemes; arm’s length transactions; fee regulation; drawing down of fees from income or capital; and reasonable fees being charged for tax return preparation; and
    Payment Systems (Regulation) Act 1998
    to provide that anything done by a payment system participant when complying with an ATM access regime as determined by the Reserve Bank of Australia is exempt from Part IV of the
    Competition and Consumer Act 2010

    Bill | Explanatory Memorandum

  • Date
    10 Mar 2005 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Amends the
    Payment Systems (Regulation) Act 1998
    to provide for an exemption to ensure that financial institutions do not contravene competition provisions contained in Part IV of the
    Trade Practices Act 1974
    when complying with the Reserve Bank’s standards for credit card interchange fees. 

    Bill | Explanatory Memorandum

  • Date
    07 Oct 2020 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Infrastructure, Transport, Regional Development and Communications 
    Summary
    Introduced with the Bankruptcy (Estate Charges) Amendment (Norfolk Island) Bill 2020, the bill amends the:
    Norfolk Island Act 1979
    ,
    Christmas Island Act 1958
    and
    Cocos (Keeling) Islands Act 1955
    to ensure the effective operation of the laws of other states and territories which have been applied in these external territories;
    Norfolk Island Act 1979
    to: enable the Australian Government to enter into arrangements with any state or territory government to support state-type service delivery in Norfolk Island; and provide for the possible future conferral upon the courts of a state or territory jurisdiction in relation to Norfolk Island;
    Corporations Act 2001
    ,
    Australian Securities and Investments Commission Act 2001
    ,
    National Credit Protection Act 2009
    ,
    Competition and Consumer Act 2010
    and
    Cross-Border Insolvency Act 2008
    to extend the application of the Acts to the external territories;
    ASIC Supervisory Cost Recovery Levy Act 2017
    and
    ASIC Supervisory Cost Recovery Levy (Collection) Act 2017
    to remove outdated references to the 'Crown in right of Norfolk Island';
    Bankruptcy Act 1966
    to enable the Australian Financial Security Authority to provide bankruptcy and personal property security services to Norfolk Island;
    Freedom of Information Act 1982
    to clarify its application to bodies established under a law in force in Norfolk Island;
    Privacy Act 1988
    to: clarify its application to statutory bodies in the external territories; and clarify the application of the Australian Privacy Principles to state and territory laws which have been applied in the external territories and the Jervis Bay Territory;
    Administrative Decisions (Judicial Review) Act 1977
    to: extend its coverage to decisions made by Commonwealth officials under applied laws in the external territories and the Jervis Bay Territory; and extend the right to judicial review to decisions made under laws made by the former Norfolk Island Legislative Assembly and continued pre-self-government ordinances;
    Criminal Code Act 1995
    to update the definition of 'Commonwealth public official' to include people exercising powers or functions under a law in force in Norfolk Island;
    Broadcasting Services Act 1992
    to enable the Australian Communications and Media Authority to issues licences and undertake future broadcasting planning in Norfolk Island;
    Copyright Act 1968
    to ensure Norfolk Island is treated as a territory instead of a state for the purposes of the Act; and
    Education Services for Overseas Students Act 2000
    to extend the application of the Act to Norfolk Island. Also makes consequential amendments to eight Acts. 

    Bill | Explanatory Memorandum

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