Australia's competition regulator said on Friday it is considering an inves...
SYDNEY - Australia’s competition regulator said on Friday it is considering an investigation into the banking sector, less than a year after a public inquiry exposed widespread wrongdoing and led to billions of dollars in costs for the industry.
FILE PHOTO: The logo for the Commonwealth Bank of Australia adorns their head office in central Sydney, Australia, October 12, 2017. REUTERS/David Gray/File Photo The Sydney Morning Herald reported the Australian Competition and Consumer Commission was planning a fresh inquiry into barriers to entry in retail banking, a sector dominated by the country’s “Big Four” banks.
The regulator confirmed that an inquiry was under consideration and said it was considering which stakeholders to engage with, but declined to give details. “We are currently discussing potential options for our next inquiry, including the various approaches we might take,” an ACCC spokeswoman said.
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