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Do You Think There Needs to be Royal Commission into Banks? Tell us WHY.
Many of the problems have stemmed from so-called “low doc” loans, where lenders have financed the entire value of a property.
Federal parliamentary inquiry into banking practices with troubled loans | POLL
March 31, 2016
http://www.theherald.com.au/story/3823556/inquiry-into-lending-tactics-poll/
NATIONAL Party Senator John Williams is a veteran of a number of parliamentary inquiries into the banking industry, which makes him a sounding board for many people not knowing which way to turn in times of financial trouble.
His latest role, as a member of the Parliamentary Joint Committee on Corporations and Financial Services, inquiring into “the impairment of customer loans”, means he has again been inundated with personal tales of financial hardship.
The committee stated at the outset that it “will not investigate or seek to resolve disputes between customers and banks”, but even a quick look at the 180-plus submissions received by the committee – and published on its website – gives an idea of the fallout from some of the questionable banking practices that critics say proliferated in the lead-up to the global financial crisis.
Many of the problems have stemmed from so-called “low doc” loans, where lenders have financed the entire value of a property.
Do you think Banks are doing enough about Hardship? NO BECAUSE HARDSHIP approvals are another Bank and Insurer SCAM!!!!
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86.52% (77 votes)
13.48% (12 votes)
Poll Closed
Total Votes: 89