Aussie banks' funding costs "spin" debunked by research

This could be a PR disaster in the making; a prominent French financial institution has scoffed at the big banks’ longtime spin that they have to increase home loan interest rates because of rising funding costs. The French bank spokesman – Christian Carillo – said it was “almost mathematically impossible” that the Aussie banks claims of higher costs could be substantiated. If this is true, one’d hope the public response would see mortgage business migrate towards smaller lenders. More likely, public apathy about getting financially done over by the banking cartel will see the staus quo preserved. Bank business as usual in other words.

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One thought on “Aussie banks' funding costs "spin" debunked by research

  1. On the one hand banks are like politicians, no-body expects them to tell the truth.

    On the other hand, at the moment the PR damage of telling big, obvious porkers is even more damaging than just motivating customers to go elsewhere. Around the world regulators, governments voters and even protesters are looking at banks more closely than ever before. This could come back and bite them on the bum.

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