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Senate defers vote on exit fees

22 June 2011 4:21PM
The Senate will vote either today or tomorrow on a motion to disallow regulations that ban exit fees on home loans.The vote was scheduled for yesterday, but the Senate ran out of time, preferring to listen to valedictory speeches by retiring senators instead.One of the proponents of the motion, Senator Nick Xenophon, has introduced a bill into the Senate (which is unlikely to progress any further) that would ban exit fees on loans provided by major banks, but allow them for other financiers.

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