Thanks for logging in.

You can now click/tap WATCH to start the live stream.

Thanks for logging in.

You can now click/tap LISTEN to start the live stream.

Thanks for logging in.

You can now click/tap LATEST NEWS to start the live stream.

LISTEN
Watch
on air now

Create a 4BC account today!

You can now log in once to listen live, watch live, join competitions, enjoy exclusive 4BC content and other benefits.


Joining is free and easy.

You will soon need to register to keep streaming 4BC online. Register an account or skip for now to do it later.

Advertisement
Advertisement
Advertisement

‘They do act together’: ACCC boss says competition lacking from banking industry

Article image for ‘They do act together’: ACCC boss says competition lacking from banking industry

The ACCC Chairman Rod Sims stands by his view about the lack of competition among the major banks.

In the past, Mr Sims has said the banks’ activities resembled “synchronised swimming” when it comes to competition.

He tells Ross Greenwood competition is missing in the financial sector.

“They do act together, there are four big banks that have very similar business systems, very similar approaches built up over a long time.

“It’s clear in watching their behaviour that it’s not in their interest to lower prices, to win more customers, because they know that if they do that their competition will do the same thing.

“So there’s virtually no price competition.”

Click PLAY to hear the full interview

Deborah Knight
Advertisement