ANZ and NAB both suggested the inquiry represented an opportunity to explain themselves.

Banks put on brave face for ACCC rates inquiry

The big banks have said they welcome the competition watchdog inquiry into mortgage pricing, with ANZ chief executive Shayne Elliott admitting lenders have not properly explained why their rates do not keep pace with the tumbling cash rate.


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Having transferred one owner-occupier (Perth) and one investor (Melbourne) home loan from Bankwest (which has been our exclusive personal bank for 30 years) to ANZ, we were surprised by how easy it was to make the change and how disinterested Bankwest (CBA) was in competing to retain our business with them. So much for banks reciprocating customer loyalty.

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