Mar 21, 2014

Banks get what they paid for on ‘consumer protection’

Mathias Cormann enjoys the confidence of the last remaining supporter of the repeal of FOFA -- $10,000 worth of it.

Bernard Keane — Politics editor

Bernard Keane

Politics editor

Rather than use the opportunity of Arthur Sinodinos’ standing aside as assistant treasurer (which looks more and more like his permanent departure) to revise the Coalition’s Future of Financial Advice debacle, Finance Minister Mathias Cormann has doubled down, insisting the government will continue its efforts to repeal the consumer protections of FOFA.


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3 thoughts on “Banks get what they paid for on ‘consumer protection’

  1. Dogs breakfast

    This ‘amendment’ is a disgrace. It is what you expect of the Libs, the question is just how do they get away with it, and who are the nuts who vote them in, in spite of it being against their best interests, and Australia’s generally.


  2. The_roth

    Its only fair. The Banks etc have payed to get this reform passed and you should get what you pay for – what else could you possibly expect from a Corporatist state masquerading as a democracy?

  3. AR

    Just as with the miners’ campaign against a real mining tax, for a few pence they get quids.

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