banks

The Federal Government is being urged to stop the big banks from sending customers personal details to offshore processing centres.

The Courier Mail has reported that a national poll has found that 83 per cent want the banks to seek written permission from their customers before sending confidential data to overseas.

By fast-tracking the latest interest rate rise by four days the big banks cheated borrowers out of $17 million.

Money has poured into the Big Four Banks even though they offer lower interest rates on savings accounts compared to the smaller banks and credit unions, because of the mistaken fear that smaller banks could collapse because of the global financial crisis.

The big banks have pledged undertakings that should prevent those raising rates beyond official increases.

It has been predicted that the Reserve Bank will lift its benchmark cash rate before Christmas.

A customer satisfaction survey has revealed that consumers rate credit unions and building societies far higher than the big Four Banks.

Banks may be forced to raise interest rates even if the Reserve Bank does not warned Treasurer Wayne Swan.

Out of the big four banks ANZ and Westpac are growing faster than their rivals in the retail banking market.

During July they accounted for the largest portion of household deposits lodged with local banks.

Mortgage brokers will be forced to write a minimum number of loans or face re-accreditation classes costing up to $500.

The Federal Government has stated that there has been no consideration given to setting up a "peoples bank" to rival the big four banks.

Bank customers have found a new place to let off steam.

They are hitting the World Wide Web instead of their bank branch and are venting online about interest rate rises and shoddy services.