Banks say they have a responsibility to their shareholders and the country to stay strong and profitable. Yet they also made profits of up to $8 billion, an increase of 25% or more when most other businesses worked hard just to survive last year. Does government have any right to insist they hold rates in line with the RBA decisions, given that  government guaranteed deposits during he GFC?

So people say! But the reality is that it can't be in today's light speed society. Bank's can't employ enough staff to be considered efficient by the markets. In part, that's why brokers were born!

What would you prefer? Would you rather dress up to see the bank manager between 10 & 3, or do you want your loan done in your lounge room. Or, would you be happy going online for a loan after reading up about it yourself - if it meant a lower rate? Any thoughts?