The mortgage-broking industry's lobbyist, the Mortgage Finance Association of Australia, was no doubt looking for a little payback earlier this month when it asked the Australian Securities and Investments Commission to investigate Choice's "Big Bank Switch".Choice, Australia's best-known consumer advocacy organisation, has been critical of mortgage brokers over the years. When it did a mortgage "shadow shop", in 2008, it found that "the best savings were achieved by switching to a credit union or an online subsidiary of a major bank - and you can't get any of those loans through mortgage brokers."It also argued, in a 2009 article, that consumers needed to find out who was on the list of institutions a broker dealt with, and how and what brokers would be paid for arranging a loan. And it pointed out that the broker should explain different mortgage options, as well as precisely why any recommended loan matched the buyer's financial needs. "Can you be sure brokers are working for you and not their own sales targets?" the article asked.But, three weeks ago, Choice unveiled the Big Bank Switch. This is, essentially, a marketing aggregation play by Choice and its business partner, a start-up business called One Big Switch. Choice has used its membership base and media clout to convince more than 40,000 mortgage-holders to give their names and email addresses to One Big Switch. The latter is now negotiating with financial institutions for a refinance deal it can offer to these 40,000 names.Choice's Christopher Zinn has repeatedly claimed that the "group switch" being pursued by One Big Switch is new and innovative, and should therefore be judged by different standards. To many industry observers, though, One Big Switch looks like just another broker. The MFAA has reported the arrangement to ASIC because it suspects One Big Switch is trying to avoid the laws that now apply to brokers.ASIC has not publicly indicated that it sees the issue as a priority. But there's a case to be made that it should.And ASIC's involvement is one of a series of problems for Choice and its business partner.As previously reported in Banking Day, Choice's role has some of its own members shouting "conflict of interest". No wonder. Just this weekend Choice was loudly proclaiming the importance of switching banks, while at the same time promoting the "Big Bank Switch", which it hopes will earn it income. And, during the week, Choice's Jenni Mack was reportedly arguing against commissions at a meeting on the future of financial advice, while Choice's business partner, One Big Switch, was trying to find a way to earn Choice commission dollars. Choice's current approach seems to be that commission money is unethical for everyone else but fine for Choice. That's laughable.Choice's involvement is particularly troublesome because - as Choice itself pointed out after that 2008 mortgage "shadow shop" - the best mortgage deals may be offered by institutions that don't pay commission. One Big Switch, whose business depends on commissions, presumably won't deal with these players. Choice