Digital Finance Analytics (DFA) Blog
"Intelligent Insight"
Concurrent with the current Regional Branch Inquiry, APRA has announced a review of its Points Of Presence Data. This is welcome, because the current data contains many inaccuracies, and we need good data to ensure adequate transparency in terms of access to banking services.
https://www.apra.gov.au/discussion-paper-adi-points-of-presence-review
You can make a submission to this review.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
An update on Regional Bank closures with Robbie Barwick from the Citizens Party. Some news is good but some also bad. So we go through this week’s events.
We also highlight the broader agenda around the future of banking, the role for a National Bank, and reason why the commercial banks are dragging their feet, and disrespecting parliament.
The media finally get on the story – better late than never.
https://gerardrennick.com.au/senate-inquiry-regional-bank-closures/
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
This is an edited version of a live discussion with Robbie Barwick from the Australian Citizens Party. In this show we will dissect the current financial system and consider how banking can be brought into line to serve the people, not profit from them.
Go to the Walk The World Universe at https://walktheworld.com.au/
The latest from our surveys relating to households in Regional areas versus Suburban and City areas with a focus on the use of branches, and access to cash.
We find that regional areas are much heavier users of branches and cash, relative to other areas – and Canberra in particular.
This may well explain why those based in the ACT are so far removed from the real issues faced every day by regional households and businesses.
Time to get the Senate to start their review, as I discussed with Robbie Barwick in my live show recently. https://youtu.be/OijlQNTVwtU
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
This is an edited version of a live discussion with Robbie Barwick from the Australian Citizens Party. In this show we will dissect the current financial system and consider how banking can be brought into line to serve the people, not profit from them.
Go to the Walk The World Universe at https://walktheworld.com.au/
An important article from The Regional’s Dale Webster, published in Independent Australia, highlighting the lies being told to try to justify the removal of banking services from Regional Australia.
https://www.theregional.com.au/
The truth is bank employees are being incentivized to lose their own jobs, and local communities are being crushed by the loss of critical services, while Politicians watch from the sidelines and in fact are complicit.
Banks are destroying their social licence, in the interests of short-term profit.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
This is a radio segment from ABC Illawarra where I discussed the branch closure issue, my recent research, and why the big banks are putting up a digital smokescreen story to cover deep cost cutting, despite the focus on regional branch closures which will strangle local communities.
We need to put pressure on our Politicians who at the moment are largely implicitly supporting the banks’ cost saving mantra.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
An important call to arms with Robbie Barwick from the Australian Citizens Party, aimed at saving SIX bank branches which are ear-marked for closure in the next few days, leaving more communities in the lurch, without property banking services in the community.
In the next fortnight, the big banks which gorge themselves on massive profits from taxpayer support will shut down branches in 10 regional towns around Australia.
Six of those towns will lose their last bank, which will be a massive blow to the local economy and community. They are:
NSW
• Bombala NAB: closing 8 December
QLD
• Dysart NAB: closing 15 December
WA
• Tom Price Westpac: closing 16 December
• Wongan Hills Westpac: closing 16 December
SA
• Mannum BankSA (Westpac): closing 16 December
• Yankalilla BankSA (Westpac): closing 9 December
Please call the Treasurer, and Members relevant to the state in which the branches are located and demand that the Government intervenes to stop this community damage from occurring.
https://citizensparty.org.au/dec-branch-closures-contact
Contact details:
Treasurer Jim Chalmers: 02 6277 7340 (Parliament) 07 3299 5910 (Electorate)
Eden-Monaro MP Kirsty McBain: 02 6284 2442 (Bombala NAB branch)
Capricornia MP Michelle Landry: 07 4922 6604 (Dysart NAB)
Durack MP Melissa Price: 08 9964 2195 (Geraldton) 08 9041 1749 (Merredin) (Tom Price and Wongan Hills Westpacs)
Barker MP Tony Pasin: 08 8531 2466 (Mannum BankSA)
Mayo MP Rebekha Sharkie: 08 8398 5566 (Yankalilla BankSA)
Gilmore MP Fiona Phillips: 02 4423 1782 (Vincentia Westpac)
O’Connor MP Rick Wilson: 08 9842 2777 (Collie and Bridgetown Westpacs)
Wright MP Scott Bucholz: 07 5541 0150 (Laidley NAB)
Go to the Walk The World Universe at https://walktheworld.com.au/
We (Dale Webster and I) have written to the Senate Standing Committee on Regional and Rural Affairs and Transport about the economic fallout from the removal of in person banking services across Australia. Today I discuss this with Robbie Barwick from The Australian Citizens Party and the need to lobby Senate members on this important issue.
Our submission is available to view here and download : https://digitalfinanceanalytics.com/blog/loss-of-in-person-banking-letter-to-rarat-committee/
And a list of Senators by state is available here: https://citizensparty.org.au/aus-senate
If you care about the economic future of our regional towns and suburbs, then please contact your local Senators and tell them that they should support the initiative, ideally over the next few days, so as to create maximum impact in the final sitting weeks of the year.
Go to the Walk The World Universe at https://walktheworld.com.au/
AUSTRALIA’S banking regulator APRA is picking and choosing which banks it is allowing to get away with breaking the law by misreporting whether their sites offer cash service provided by a teller according to an important article in The Regional. Kudos once again to Dale Webster for highlighting this important issue.
Errors in hundreds of minor and foreign bank sites included in the Australian Prudential Regulation Authority’s points of presence data for years, even decades, have been corrected over the past 17 months after being exposed by The Regional in May 2021.
https://www.theregional.com.au/post/regulator-s-bank-data-inconsistencies-not-adding-up
https://www.theregional.com.au/post/apra-s-clean-up-of-bank-data-errors-leaves-statistics-in-chaos
Go to the Walk The World Universe at https://walktheworld.com.au/
