It is time to offer the prospect of genuine competition in this form of lending
							There could be added costs to users if the reform package goes through

We'll send your vote to the Reserve Bank of Australia.

Bank governor Ian Macfarlane has likened the potential consumer benefits to the massive home loan market changes that followed the opening of that area of credit to non-banks. He said: "Some of the main restrictions do not serve the public interest".

The plan would also allow retailers to charge customers extra - by passing on the bank's fees - for using their credit cards. Also, the banks are threatening to scrap or water down their loyalty schemes and interest-free periods on credit cards.

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