Why the banking study was needed and where it should look

Govt orders market study into retail banking only; business banking carved out; initial issues paper due in August, but final report due Sept 2024; Draft open banking bill due later this week

The big four Australian-owned banks will probably be able to easily fend off any meaningful change to their mortgage banking business model. Photos and montage: Lynn Grieveson / The Kākā

TL;DR: As foreshadowed on The Kaka last month, the Government has announced a market study into high bank profits, but unexpectedly carved business banking and bank cult…