ACCC recommendations ‘prioritised’ in new rate measures: Chalmers

Treasurer Jim Chalmers says he “prioritised” the most important recommendations from the ACCC with the new measurers for better rates on mortgages and savings accounts. The Treasurer is seeking to boost the power of smaller regional banks as they struggle to compete against the big banks in mortgage lending with a new regulatory review that will focus on higher funding of costs of small and medium lenders. “We took into consideration all the ACCC recommendations and we prioritised the ones that we thought were the most important,” Chalmers told press in Queensland Saturday. “This is not necessarily the end of the changes that we want to make to make life a bit easier for people in the banking system, but it is an important set of steps that we are taking.”