New laws to shave banks of $1bn in penalty fees

THE banking industry has admitted that nearly $1 billion worth of fee income is at risk once a new consumer law governing unfair contracts comes into force next January.

New law puts $1b in bank fees at risk

BANKS say nearly $1 billion worth of fee income is at risk when a consumer law governing unfair contracts comes into force in January.

Ask Noel

I'm 55 and have always been encouraged to diversify my investments, however when it comes to super, my financial planner assures me that I should put my entire super into the one fund. I know there are a variety of options that can be invested in within the one fund but I still sense it may be wise to have two super funds. What do you advise?