Proactive monitoring needed in banking, insurance, MPs told

Wed, 19 Sep 2018

By Gavin Evans Sept. 19 (BusinessDesk) - More proactive monitoring of the country’s banking sector is needed given the lack of understanding in the community about insurance products and loans, MPs heard today. Home loans, savings schemes and insurance are not the same as other consumer products, Stephen Parry, First Union’s national organiser for finance sector workers, told Parliament’s finance and expenditure committee. There is an asymmetry of information between the customer and the banks and insurers offering products and the cos...

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