Saturday, March 30, 2024

Open letter to Albo: Apparently you have the power to pause bank closures

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Dear Mr Albanese,

For a federal parliamentary petition to be approved, the rules state the request must be for something the House of Representatives (the House) can do.

Just five months ago, a petition calling for an immediate moratorium on regional bank closures was signed off on by your government, published and subsequently received 5000 signatures.

Yesterday, in defiance of a direct request by a senate committee investigating the economic and welfare impacts of regional bank closures to pause all planned closures while the inquiry was in progress, Westpac shut the last banks in the South Australian towns of Coober Pedy and Tailem Bend.

For the residents of Coober Pedy, the next banking option is 500km away and out of reach of many, particularly the elderly.

Next week, Westpac is planning to shut the last bank in the West Australian town of Carnamah, an equally isolated but growing community.

Westpac also plans to shut banks in Hay, Moree, Katherine and Shepparton.

The National Australia Bank and ANZ have also thumbed their noses at the senate’s request.

NAB is planning to close Barraba, Clifton and Alexandra’s last banks, as well as branches in Longreach, Maffra and Belmont.

ANZ is closing 13 regional branches, including the last bank in Smithton Tasmania, which has lost two major banks in the space of months after the Commonwealth also pulled out. The other planned closures are at Cessnock, Gunnedah, Lithgow, Moree, Mudgee, Muswellbrook, Tumut, Camperdown, Cobram, Moe, Myrtleford and Robinvale.

These banks are among more than 100 regional sites that have been closed or had closures notices issued by the big four since the end of September.

I ask that, as a matter of urgency, your government honour the message you sent Australians by approving the petition calling for a moratorium on regional bank closures by using whatever means that are within your power to have these pending closures put on hold while the senate inquiry is in progress.

Regards,

The Regional

This article appeared on The Regional on 18 February 2023.


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