Central Banking

Credit card clean-up in Australia

AUSTRALIA - The Reserve Bank of Australia is poised to make sweeping changes to credit card regulations in 2002. Should it prohibit the banks' interchange fee structure, as has already been flagged, Australia's banks will lose a collective $A400 million a year.

What credit card users will want to know is whether such a move will see the banks reduce current benefits for card holders, such as interest-free periods and loyalty rewards, in a bid to claw back some of the lost revenue.

The dynamics of

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