The discrepancy between rates offered new borrowers and existing customers is one of the issues being considered by the consumer watchdog in the government-mandated inquiry into home loan pricing announced last month. Matt Comyn , CEO of Australia 's Commonwealth Bank has said the firm does not charge existing mortgage customers with a " loyalty card " . Speaking to a House of Representatives ' economics committee , Comyn said it did n't " actively seek " to sell borrowers on a higher interest rate , and said it " proactively " contacted people to inform them of lower rates offered to new customers . The Australian government launched an inquiry into the difference between mortgage rates offered new and existing customers , and Comyn said the banking industry had " more work ahead " to win back public trust .
Matt Comyn , CEO of Australia 's Commonwealth Bank has said the firm does not charge existing mortgage customers with a " loyalty card " . Speaking to a House of Representatives ' economics committee , Comyn said it did n't " actively seek " to sell borrowers on a higher interest rate , and said it " proactively " contacted people to inform them of lower rates offered to new customers . The Australian government launched an inquiry into the difference between mortgage rates offered new and existing customers , and Comyn said the banking industry had " more work ahead " to win back public trust .