Digital Finance Analytics (DFA) Blog
"Intelligent Insight"
We look at the latest Senate hearings on Regional Branch closures, and discuss the continued misdirection coming from the cost-cutting banks – justified – so called – by the migration to digital banking.
But as discussed during the hearings, the banks do not want to talk about what they are doing, and a peoples bank is required to offer a real alternative.
http://www.martinnorth.com/
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Breaking news, as Westpac reverses its decision to close some of its regional branches, in response to the pressure form the Senate inquiry (which we managed to get up). I discuss this with Robbie Barwick from the Citizens Party.
The job is not done yet, and we need to ensure the Treasurer reverses his support for a totally independent Central Bank!
Giving up authority over the RBA – The ultimate BETRAYAL of the Australian people https://youtu.be/EA7FhBZxfuM
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Breaking news, as Westpac reverses its decision to close some of its regional branches, in response to the pressure form the Senate inquiry (which we managed to get up). I discuss this with Robbie Barwick from the Citizens Party.
The job is not done yet, and we need to ensure the Treasurer reverses his support for a totally independent Central Bank!
Giving up authority over the RBA – The ultimate BETRAYAL of the Australian people https://youtu.be/EA7FhBZxfuM
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Dale Webster at The Regional has caught CBA out, as despite their promise not to close regional branches while the Senate Inequity is running, they are, by carefully defining down “Regional” to a very narrow definition, conveniently leveraging the ABS definitions, despite elsewhere calling these same regions Regional.
https://www.theregional.com.au/post/commonwealth-breaks-pledge-to-pause-regional-bank-closures
The Senate needs to hold CBA to account here. Write to your Senator, and also CBA management. This is plainly not acceptable nor within the spirit of their earlier statement! Well done Dale!
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Dale Webster has been highlighting the significance of rising online fraud in the context of bank branch closures, and we discuss her recent submission to the current inquiry. Poor mobile coverage in the bush makes two factor identification laughable, and yet banks are paying tellers to push them online.
The latest edition of our finance and property news digest with a distinctively Australian flavour.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Dale Webster has been highlighting the significance of rising online fraud in the context of bank branch closures, and we discuss her recent submission to the current inquiry. Poor mobile coverage in the bush makes two factor identification laughable, and yet banks are paying tellers to push them online.
The latest edition of our finance and property news digest with a distinctively Australian flavour.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
For the final time in Australia, I caught up with Robbie Barwick from the Citizens Party. We looked at the progress towards the establishment of a Public Bank in the light of recent failures, and the inquiry into Regional Banking.
Importantly, there are just two more weeks to get your submission to the Inquiry. Have your say! and support the transformational policy.
Make a submission to regional bank closures inquiry
Submissions to the inquiry are due by 31 March. All communities, organisations, businesses, and individuals impacted by the banks’ war on cash are strongly urged to make a submission, including to support a government post office bank.
A submission can be a formal representation from an organisation, or as simple as a letter or email, which explains to the Committee your experience and views.
Elderly and vulnerable regional bank customers, who are disproportionately affected, are especially encouraged to hand-write or type physical letters and mail them to the Committee through the post.
Mail your submission to the Committee at this address:
Committee Secretary
Senate Standing Committees on Rural and Regional Affairs and Transport
PO Box 6100
Parliament House
Canberra ACT 2600
Email your submission to the Committee at rrat.sen@aph.gov.au
Upload your submission, and get more information, at the inquiry website
For more information, phone the Committee on 02 6277 3511.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Another powerful piece from Dale Webster, highlighting the ineffectiveness of Baking Code, the arrogance of Westpac ignoring customers, and discriminating against disabled customers, and the Australian Bankers Association who simply talks their book, and defends what has been called “illegal” behavior.
https://www.theregional.com.au/
Make your submission to the Senate here: https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Rural_and_Regional_Affairs_and_Transport/BankClosures
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Thanks to Senator Rennick, and others, the Senate agreed to an Inquiry into the closure of Regional Bank Branches, the first in nearly 20 years.
So, there will be a chance for regional communities to make submissions and the Senate should write to the Banks to ensure they hold off on further closures pending the December report deadline.
Thanks to Dale Webster from the Regional for her article on this important matter.
Democracy in action….
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
It is unbelievable that ASIC has started 2023 with an extraordinary attack on the Federal Parliament on the eve of a major inquiry about to examine ASIC’s investigation and enforcement performance.
Earlier this week, we had an extraordinary attack by ASIC on the Federal Parliament’s system of oversight.
Both outgoing Commissioner Sean Hughes and ASIC Chairman Longo has attacked Parliament’s oversight as inefficient and waste time!
ASIC will be appearing before Senate Estimates either on 15 or 16 February 2023, so this will be the next set of potential fireworks with Senators.
Senator Bragg and the Senate Economics References Committee has extending the deadline from Friday 3 February 2023 to Tuesday, 28 February 2023. Almost 4 weeks for submission relating to the ASIC Inquiry.
https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/ASICinvestigation
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Go to the Walk The World Universe at https://walktheworld.com.au/
