Talking Points Ep 16 – “Grubby” Banks | Pay It Later Brawl, | Interest Rates
- December 21, 2023
- Posted by: Paul Ransley
- Category: Newsletter
What captured your interest in the world of business finance this week? Here are my top three headlines.
1. “Grubby” Banks – with broker lobby groups hurling insults at main stream lenders. The Finance Brokers Association described some banks as grubby, ludicrous and narrow minded. It’s because lenders are playing hardball by offering discounted rates and cash backs to retain customers that brokers are trying to refinancing elsewhere. Brokers don’t like it but, at the end of the day, don’t customers deserve the best deal they can get? I am happy to hear your thoughts on that.
2. “See You Later” – Which could become a catch cry for AfterPay copy cat, Pay It Later whose directors are fighting. One of them has petitioned the federal court to dissolve the firm. Adding to that, some retailers who have subscribed to Pay It Later’s service complained to A Current Affair that they were not being paid at all.
No.3. Interest Rates – While media hand wringing has largely focussed on mortgage rates rising mid-year, businesses owners will also experience pain. The cost of business loans will rise which will reduce spending power and also economic growth down the track. Amongst the mainstream lenders, it is likely to become harder to source funds without strong security.
So, that’s what grabbed my attention this week. I have deliberately avoided the eye-glazing election campaign, but is there something you think I have missed?
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