Royal Commission presents clear downside for bank stocksBY ALEX BURKE | MONDAY, 23 APR 2018 12:28PMFindings from the Royal Commission, and the possible increased regulation that will emerge as a result, have weakened the investment case for Australia's banking sector. Related News |
Editor's Choice
The top investment funds over the past year
The top-performing investment funds for the year ending March 31 have been announced, with all being ETFs focused on international equities.
AFCA finds more Dixon Advisory victims
The Australian Financial Complaints Authority added 544 more Dixon Advisory-specific victims to total 2492 complaints at the end of April, which will further exacerbate the levy financial advisers must pay.
Senior Cbus investment manager exits
Cbus' head of total portfolio management has left the fund, while a former JANA executive has joined its infrastructure team.
Quality of retirement does not depend on super balance: Bragg
The Senate Economics Committee has released its interim report into using super for housing.
Products
Featured Profile
Robert De Dominicis
CHIEF EXECUTIVE OFFICER
GBST HOLDINGS LIMITED
GBST HOLDINGS LIMITED
It was during a family sojourn to the seaside town of Pescara, Italy, Rob DeDominicis first laid eyes on what would become the harbinger of his future. Andrew McKean writes.
In the 1990's it was identified by 4 Corners, investigated and proven true that the banks ALL charged their clients interest and fees based on 31 days per month-every month.
At that time the banks explained it as a "computer glitch", but one which they assured everyone they would reimburse everyone effected. IT DIDNT HAPPEN!
Unless the public purchased a software package that include a template letter addressed to "a bank" and the figures provided by the software, which was never queried by the bank and paid immediately .However if "you" didn't claim you got nothing.
That same 31 days a month program of interest still runs today 20 years later. Every personal loan, overdraft, mortgage, credit card is still bveing ripped off. Has this been mentioned in the Royal Commission. Plenty of eveidence available.