NAB calls for Senate on dissatisfaction issues
(8 December 2010 – Australia) National Australia Bank has challenged a Senate inquiry to address customer dissatisfaction issues, saying customers concerns were justified.
The Australian Financial Review reported that the bank believes the senate should focus on different factors causing dissatisfaction, including mortgage exit fees, which NAB has abolished.
The bank said that many of customer concerns about the banking sector were justified and that major banks continued to prevent mortgage holders from exercising choice through fees and charges, which the bank said limited competition in the mortgage sector.
Commonwealth Bank of Australia and Westpac Banking rejected the calls and said fees did not prevent customers from switching their loans.
The bank said that many of customer concerns about the banking sector were justified and that major banks continued to prevent mortgage holders from exercising choice through fees and charges, which the bank said limited competition in the mortgage sector.
Commonwealth Bank of Australia and Westpac Banking rejected the calls and said fees did not prevent customers from switching their loans.
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