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Banks use extreme pressure tactics
Sunday, February 01, 2009 » 11:15am
Banks have been accused of using high-pressure sales tactics to maintain profits.
According to reports, up to 170 bank workers each month are filing complaints about being unreasonably forced to push home loans or credit cards on customers, who are now more cautious after an era of easy credit and high debt.
In September the Financial Services Union received 149 complaints, which increased to 170 by October. The worst was the Commonwealth Bank, accounting for 44 per cent of complaints, while Westpac had 14.3 per cent, the ANZ 9.4 per cent and the National Australia Bank 7.6 per cent.
The union's NSW secretary Geoff Derrick said it was unreasonable for banks to ask staff to maintain profit margins as the economy slows.
Banks use extreme pressure tactics
Sunday, February 01, 2009 » 11:15am
Banks have been accused of using high-pressure sales tactics to maintain profits.
According to reports, up to 170 bank workers each month are filing complaints about being unreasonably forced to push home loans or credit cards on customers, who are now more cautious after an era of easy credit and high debt.
In September the Financial Services Union received 149 complaints, which increased to 170 by October. The worst was the Commonwealth Bank, accounting for 44 per cent of complaints, while Westpac had 14.3 per cent, the ANZ 9.4 per cent and the National Australia Bank 7.6 per cent.
The union's NSW secretary Geoff Derrick said it was unreasonable for banks to ask staff to maintain profit margins as the economy slows.
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