Freelance Investigator Takes on Aussie Banks  Wednesday, 13 March 2013 Melbourne, Australia By Kris Sayce

"Bendigo and Adelaide Bank was "incompetent" in its dealings with an elderly couple with little English and in poor health, and had failed to investigate whether they could meet their financial obligations, the NSW Supreme Court has found."

'In a damning judgment, judge Michael Pembroke set aside a $1.2 million, 25-year loan to Greek couple Steve and Aristea Karamihos, ruling it was "unjust" under the National Credit Code.' - The Australian (13/3/2013) "

Until recently, the relationship between customers and banks has been a one-way street. It's been about the customers handing over their hard-earned cash in the form of mortgage payments. Even if you don't have a mortgage, you've got to find somewhere to keep your savings...most of the time that involves maintaining a bank account. And there aren't many jobs these days where they'll pay you cash-in-hand.  Oh no, if you deal in cash, that marks you out as some kind of terrorist...even if you're using the government's legal tender.

In return for maintaining a bank account, if you're lucky, the bank will pay you a few dollars a month in interest. Not that I'm knocking interest. It's a great way to earn a passive income. What I'm saying is the banking sector has consumers by the throat. Fail to pay your mortgage, pay a credit card bill a day late, or accidentally go overdrawn and the bank will whack you with a bunch of fees, hand your details to a debt collector, or even repossess your home.

As I say, it's a one-way street. Or it has been. Perhaps that's all about to change...