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ISCOVER
Staff Reporter
The House of Representatives has officially passed a bill which will stop banks from price signalling.
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The bill was passed yesterday after various amendments were made to the legislation, including mortgage broker disclosure.
There was concern that the original legislation would stop a bank disclosing information to mortgage brokers, however the bill was amended so that this is no longer the case.
Under the amended legislation, banks will be banned from privately sharing price information or publically signalling price moves for anti-competitive purposes.
