Labor is promising to implement all but one of the 76 recommendations of the banking royal commission, if the party wins the next federal election. 9News
Labor has committed to abolishing trail commissions if it wins the next election and has vowed to cap mortgage broker fees at 1.1 per cent of a property loan."Not all lenders have the ability to, with a strong balance sheet, to provide higher up-front fees. So Labor's policy will end up being a free kick to the banks," Mr Frydenberg says.
Labor confirmed on Tuesday that would be the only one of the royal commission's 76 recommendations it won't implement if it wins the next federal election. "We see the bigger banks and the financial institutions as being the bigger priority," he told reporters in Canberra on Tuesday.
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