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Can we have financial reform when banks are too big to regulate?

The demonstration of bank power on the FOFA repeal illustrates the challenge of effectively regulating a sector that is beginning to dominate the Australian economy, write Bernard Keane and Glenn Dyer.

It’s been a mixed week for the big banks. Clive Palmer handed them a huge win on financial planning and wealth management by agreeing to support the Coalition’s gutting of the Future of Financial Advice consumer protections — one that will add at least $300 million to $500 million a year to their collective bottom lines from


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