Senate debates Questions on Notice

Banking (Question No. 66


David Johnston

David Johnston WA, Liberal Party, Shadow Minister for Defence

asked the Minister representing the Minister for Financial Services and Superannuation, upon notice, on 29 September 2010:

When any assets are, or property is, sold, does a bank take steps to minimise the costs incurred; if so, why do banks in most cases use higher priced law firms for often routine matters for which the customer is obligated to pay for under the security documents.

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