Original article by Shaun Drummond
The Australian Financial Review – Page: 15 : 14-Oct-14

The Australian Government has accepted the Reserve Bank’s recommendation to scrap the requirement for companies that issue credit cards to hold a bank licence. Finance Minister Mathias Cormann says the move will increase competition by attracting new entrants to the credit card market and result in lower fees for consumers and retailers. However, some experts doubt that the reforms will lead to greater competition

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