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-Australian central bank governor criticises banks for their misdeeds

Nov 20, 2018 - Global Banking News

Global Banking News - 20 November 2018

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Australian banks have been accused of predatory lending and poor financial advice as they amassed huge profits at the cost of customers' interest.

Reserve Bank of Australia (RBA) governor, Philip Lowe, said banks should consider correcting their internal incentive system. He added that the system has encouraged short-term goals, often at the expense of customers' interests.

The gov...