This question has been bothering me for some time.
Let's say, for arguments sake, ANZ bank moves all home loans settled by it in July 2008 into a holding company... let's call it Sucked In July Pty Ltd....
ANZ then continues to advertise its cutting edge interest rates and low fees under it ANZ brand....
At the same time the independent Sucked In July Pty Ltd has interest rates and fees raised violently, as it has no competition concerns. There is no front end, or "desk" for new loans after all.
Now in a months time ANZ spins of another new company, one full of home loans settled by it in August. Let's call it Sucked In August Pty Ltd...
This event has just happened in Australia in regards to RAMS and RHG.
Apart from the obvious anti-competition concerns, does anyone have any knowledge whether any laws have been broken here?
Is anyone aware of any Lawsuits, whether civil or criminal that have been launched against Westpac/RHG/RAMS?
Thanks.
Let's say, for arguments sake, ANZ bank moves all home loans settled by it in July 2008 into a holding company... let's call it Sucked In July Pty Ltd....
ANZ then continues to advertise its cutting edge interest rates and low fees under it ANZ brand....
At the same time the independent Sucked In July Pty Ltd has interest rates and fees raised violently, as it has no competition concerns. There is no front end, or "desk" for new loans after all.
Now in a months time ANZ spins of another new company, one full of home loans settled by it in August. Let's call it Sucked In August Pty Ltd...
This event has just happened in Australia in regards to RAMS and RHG.
Apart from the obvious anti-competition concerns, does anyone have any knowledge whether any laws have been broken here?
Is anyone aware of any Lawsuits, whether civil or criminal that have been launched against Westpac/RHG/RAMS?
Thanks.