regional bank closures

The proposed closure of the Bank SA branch in Kingston will have a devastating impact on the township, its neighbouring communities, and businesses that rely on rural banking. This was the sentiment echoed by almost every member of the public who attended the committee consultation on the future of Bank SA organised by the Kingston District Council on Wednesday.

Contempt of the Senate is a pretty easy thing to get your head around. Witnesses at hearings who give false or misleading evidence run the risk of being hauled in front of the privileges committee for a “please explain” ... There’s a lot that could be considered as misleading in NAB’s testimony at Sale but saying they are “committed to being where its customers are” is the first outright fib given in evidence to this parliamentary inquiry.

Australia Post’s future lies in the ability of the public-owned service to diversify and meet the needs of a modern-day nation that is being strangled by grotesque free-marketeers, Katter’s Australian Party Leader and Traeger MP Robbie Katter has said ... Mr Katter said, with its well-established network of branches, an expansion of Australia Post into the personal and business banking space was in the “national interest” and now was a golden opportunity for transformation.

Today we learned three things: the Banking Code of Practice isn’t worth the paper it is written on, the format for emailing Westpac executives directly and that Anna Bligh’s Australian Banking Association will only engage with journalists who give them an easy run.

I’m sure there will be beers all round tonight for the Westpac communications team who managed to flip the bird at six federal senators this week and pull off one of the most stunning PR subterfuges I have ever witnessed. It was stunning for the range of those who fell into the trap and the breadth of media who picked up and reported the story without question – from the senators themselves to seasoned journalists in national newsrooms.

The Federal Government’s Treasury Department now has in its possession pages of first-hand accounts from bank staff admitting that they have been working under orders to move customers away from face-to-face banking and on to digital channels ... It is the first time hard evidence has been available to prove these long-suspected practices exist, yet the information, provided to the Regional Banking Taskforce through the Financial Sector Union, was ignored by the Government in its final report.

The number of banks closed in regional Australia in the six weeks since the Albanese Government quietly released the Coalition’s Regional Banking Taskforce final report is comparable to a dam opening its spillways. The blame for the acceleration – at least 71 branches across all states and territories – can be laid squarely at the feet of the two opposition MPs who led the inquiry, Michael Sukker and Perin Davey, and Assistant Treasurer Stephen Jones, who released the report.