Round 1 hearings - Consumer Lending

Round 1 hearings - Consumer Lending

The first round of public hearings will be held in Melbourne at the Owen Dixon Commonwealth Law Courts Building at 305 William Street from Tuesday 13 March to Friday 23 March.

The first round of public hearings will consider aspects of the treatment of consumers by banking and financial services providers in connection with a number of credit products, including residential mortgages, car finance and credit cards. It will also consider the arrangements and practices of banking and financial services providers and their intermediaries.

The Commission presently intends to deal with consumer lending for the purposes of the public hearings by reference to the case studies set out below.

  | Topic | Case Studies
1. | Residential Mortgages | NAB Introducer Program and fraudulent loan applicationsAussie Home Loans fraudulent brokers and broker arrangementsCBA accreditation of brokers and broker arrangements
2. | Car Finance | Westpac/St George car finance practicesANZ/Esanda car finance practices
3. | Credit Cards | Westpac unsuitable credit card limit increasesCiti imposition of international transaction fees
4. | Add-On Insurance Products | CBA credit insurance in connection with home loans, personal loans and credit cards
5. | Credit Offers | ANZ unsuitable pre-approved overdraft offers
6. | Account Administration | ANZ account administration errorsCBA unsuitable overdraft facilities and failure of automated systems

A number of consumers will give evidence of their particular experiences during the hearings. The entities that are the subject of consumer evidence will be informed by the Commission. A representative of a consumer advocacy group will also give evidence.

Further topics may be included and the list above will be updated accordingly before the hearings commence.