Greens set to target four major banks in federal election

The Greens have revealed a new plan to tackle Australia's big four banks before the next federal election. The Australian Institute revealed big banks receive more than $9,000 in interest in the first year on an average home loan. The Greens have used the data to drive their new housing policy, which would force the big banks to make no more than one per cent in profits on first-home buyer loans. Banks would have to limit the interest rate they offer to first-home buyers to just one per cent more than the cash rate.