Frydenberg moves on foreign transaction fees

October 2, 2018. Treasurer Josh Frydenberg speaks to reporters in Sydney, saying the Australian Competition and Consumer Commission will put exorbitant foreign transaction fees under the microscope. Mr Frydenberg says millions of people were paying too much to banks, with Australians shelling out $2 billion in foreign transaction fees a year. "We want to stop the rip off," Mr Frydenberg says. (AAP Video/Michael Wade)