On 28 October 2010 the Senate referred the topic of competition in the banking sector to the Senate Economics Committee for inquiry.
Terms of Reference
Competition within the Australian banking sector, including:
(a) the current level of competition between bank and non-bank providers;
(b) the products available and fees and charges payable on those products;
(c) how competition impacts on unfair terms that may be included in contracts;
(d) the likely drivers of future change and innovation in the banking and non-banking sectors;
(e) the ease of moving between providers of banking services;