What will open banking mean for wealth management? David Ferrall takes a look in The Australian.
Just when the banking sector thought the worst was over following the Royal Commission, the industry looks set to come under the spotlight again. Not only has the Federal Treasurer asked the ACCC to investigate the failure of banks to pass on rate cuts to borrowers, but they are also facing the prospect of further scrutiny from the boss of the competition regulator, Rod Sims ,as he presses the government to support his calls for an inquiry into the barriers to entry imposed by the “big 4” in retail banking. Read more over at The Australian.