Australian supermarket duopoly to offer home loans.
11 replies, posted
[QUOTE]Supermarkets are gathering an unprecedented amount of information on Australians' financial situations and lifestyles as they prime for a clash of the titans with the big four banks.
The ABC's 7.30 understands Coles and Woolworths are engaged in high-level talks about establishing banks and offering home loans.
Coles is keeping coy on persistent rumours it is applying for a full banking licence, but the supermarket group is already making an aggressive push into Australia's trillion-dollar financial services sector, announcing a joint venture with GE Capital last month to deliver personal loans and credit cards.
7.30 has learned both Coles and Woolworths have been negotiating potential partnerships with Australian mortgage providers to enter the lucrative home loans market.
The supermarkets have already signed up more than 1 million Australians to their existing credit card and insurance products, and have registered the trademarks, Woolworths Money, Coles Money and Coles Financial.[/QUOTE]
I am all for free markets, but there has to be Federal regulations when it comes to companies having you by the balls, bread, and roof.
[QUOTE=Bradyns;45608891]I am all for free markets, but there has to be Federal regulations when it comes to companies having you by the balls, bread, and roof.[/QUOTE]
And pets, don't forget pets.
[media]http://www.youtube.com/watch?v=rCuYcQtZHMQ[/media]
They are getting their fingers in all the pies.
[QUOTE=Damoman;45608947]And pets, don't forget pets.
They are getting their fingers in all the pies.[/QUOTE]
...and Car Insurance.
[video=youtube;GCiboApEpIA]http://www.youtube.com/watch?v=GCiboApEpIA[/video]
we just have to make sure we get out of the country before they buy the airlines too
[QUOTE=Empty_Shadow;45608994]we just have to make sure we get out of the country before they buy the airlines too[/QUOTE]
It's amazingly sad how no one is really protesting these changes, yet there are knee-jerk reactions regarding non-issues.
I buy my milk from Coles, not trusting them with a bloody home loan though.
[QUOTE=Bradyns;45608963]...and Car Insurance.
[video=youtube;GCiboApEpIA]http://www.youtube.com/watch?v=GCiboApEpIA[/video][/QUOTE]
I hate that ad so much.
[QUOTE=-n3o-;45609203]I hate that ad so much.[/QUOTE]
I'm glad I don't watch TV
hey i work at coles. neat
[QUOTE=RustledJimmys;45609323]hey i work at coles. neat[/QUOTE]
Same, I feel like we're partially responsible for this. Like we've contributed to create a monster.
[I]Down, down, house prices are down![/I]
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