Australia: Parliament Committee To Review RBA Reforms
The Weekend Australian reports on plans by the standing committee on economics, finance and public administration of the Australian parliament to review reforms made by the Reserve Bank of Australia to the country's payments system - including changes to card interchange fees.
The decision by the standing committee on economics, finance and public administration to focus on one element of the RBA's operations is regarded as unusual. It comes amid suggestions from parts of the banking industry - which has lost substantial fee income from the RBA's reforms to the payments system - that consumers have not benefited and that the Australian Competition and Consumer Commission should be reinstated as regulator.
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