AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
Byline: Evan Pickworth
BANK CHARGES Reforming robber barons The general feeling is that SA banks may have been taking consumers for a ride. But the banks tell us there are two sides to every story WHAT IT MEANS.
Banks have complied with many of the requirements.
The charges issue may be dealt with this year You will note that he didn't even use the words 'bank charges'. One can argue that the comments of the media have therefore been misleading by putting words into the mouth of the minister which he neither used nor necessarily intended SIM TSHABALALA Banking charges remain an emotive issue, but the outcome of the 2008 competition commission inquiry into bank charges could disappoint if it finds SA charges are not as high as was thought.
This may be part of the reason former finance minister Trevor Manuel cautioned against raising questions about the integrity of SA's financial system in the recessionary climate that erupted in 2008, effectively putting a brake on the competition commission's demand for reduced bank charges.
Banking Association of SA MD Cas Coovadia says this cautionary approach should still apply because though it is foolhardy to say there aren't inefficiencies in …