"nothing you can do about it, 1000 years of british fore-lock tugging has had a genetic effect. best to go quietly." (Quote:DEMOS)

Well, the Brits must have given up the habit. The UK has legislation in place that prevents banks from charging exorbitant fees.

Clearly Brits weren't prepared to 'go quietly'.

Problem is that you come back to the requirements of the Corporations law, which makes it illegal for Boards to do anything BUT maximise their shareholders profits. If we are going to change anything about any of our corporations, this has to be the starting point. We need to legislate for not just shareholder benefit, but also corporate community responsibility. Otherwise the banks will see a "fair" fee, as the maximum that they can get away with charging without having a mass walk-out of customers. And in reality, by using this approach, they are simply complying with the law

Isn't the point of the article that the Law won? Clearly the banks arn't above the law when it is enforced against them.

How does that demonstrate a need for greater regulation? The Law worked and was enforced. All bank customers have protections under the law, all can exercise consumer sovereignty and switch to another bank or non-bank provider of financial services (credit unions, non-bank lenders etc) if they are not satisfied with their current service provider.

Of course it is all a scam Howard Syndrome Market Forces, Competition is good shop around. I say once again Campaign for a National Bank this would keep them honest. If you read the Choice Magazine it compares true value. Members Equity Bank and Home Building Society are good value at the moment. You know many a whinging Pm has told me you Australians are so tolerant you allow yourself to be stitched up with love. No Bank charges in Britain unless you go into the red. On top of that Private Education and Private Health in Britain is a dirty word in Britain it is not needed Private is not subsidised by the tax payer therefore it goes towards Government Health and Education simple. When will the electorate realise that Howard has been fooling them for eleven years ? Students had to forsake Austudy it was stolen from them so that had to take a loan from the Commonwealth Bank to pay for their studies no wonder the Education Department cannot find teachers Howard doesn't want them to be educated unless they have been born with a silver spoon in their mouth.