Business Services Industry
Mortgage lenders agree to discipline themselves.
Australasian Business Intelligence, August, 2003
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Aug 26, 2003 (The Australian Financial Review - ABIX via COMTEX)
The Mortgage Industry Association of Australasia (MIAA) has increased its power to discipline members. The CEO of the MIAA, Phil Naylor, said this was not an attempt to fend off regulation, but rather to demonstrate the industry's ability to accept a regulatory framework. The MIAA has set up a tribunal, chaired by a former Australian Competition & Consumer Commission (ACCC) chairman, which has the power to discipline and blacklist members. The MIAA is seeking authorisation of its rules by the ACCC.
Publication Date: 27 August 2003
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