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Labor urges RBA wait on bank fee changes

 

The Reserve Bank is being urged to delay making any recommendations about bank interchange fees until a Senate committee has finalised its inquiry into credit card interest rates.

Labor senator Sam Dastyari, who is chairing the inquiry, says a solution to Australia's credit card problems won't be found through a "quickie review" conducted in secret by the central bank's payments systems board.

As the inquiry continues in Canberra on Tuesday, Senator Dastyari said if the Turnbull government was looking for an area to reform, "this is it", he wrote in The Australian.