RateCity investigates the banking industry in 2010. Australia’s financial institutions raked in $3.9 BILLION extra in interest charges. What can you learn for 2011?
Households paid banks $3.9 BILLION extra in 2010
Financial inequity extends beyond the workforce: research
Not only do women earn substantially less than men – 17.7 per cent less, on average – but new research reveals that a financial disparity between genders extends beyond the workforce into household finances.
Why are businesses being slugged with higher bank fees?
Banks made $7 billion in fees from businesses in 2010. This was $2.65B more in fees than households paid in 2010. Where are the fees being charged, and what can businesses do about it
Households still paying too much in bank fees
Australia’s banks collected over $4 BILLION in fees from households in 2010. Average household pays $506 per year in fees alone. Stop paying too much: most fees can be avoided.
Yes, it may be possible to get a $1,500 payday loan with bad credit. Some payday lenders give loans to people with bad credit histories if they believe the borrower has the capacity to repay the loan.
Under Australia’s responsible lending rules, lenders aren’t allowed to approve $1,500 payday loans if they don’t believe the borrower can make the repayments.