Reps inquiry ends with a whimper

Ian Rogers
The Economics Committee of the House of Representatives managed to think up three suggestions from its short encounter with the controversies around mortgage lending.

They are: to have the Banking and Financial Services Ombudsman Scheme increase the limit at which it may consider disputes to $500,000 from $280,000; to prefer the Commonwealth government as regulator of credit; and to ask the Australian Bureau of Statistics to collect and publish annual data on mortgage repossessions.