Digital Finance Analytics (DFA) Blog
"Intelligent Insight"
Robbie Barwick from the Citizens Party and I discuss the latest moves in the battle to retain cash in society ahead of the next Senate hearings which are scheduled for next week. The battle is reaching a head, and there is everything to play for, not least as Adrian Orr put it recently, its a question of social cohesion!
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Robbie Barwick from the Citizens Party and I discuss the latest moves in the battle to retain cash in society ahead of the next Senate hearings which are scheduled for next week. The battle is reaching a head, and there is everything to play for, not least as Adrian Orr put it recently, its a question of social cohesion!
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
The UK banking sector is being warned it faces penalties if it does not secure free access to cash for the UK population, including businesses, following waves of branch closures over more than a decade.
https://www.gov.uk/government/news/free-access-to-cash-protected
The Financial Conduct Authority (FCA) and Treasury confirmed the guidelines the industry was expected to follow. The legal framework showed that no person or business should be further than three miles away from facilities to withdraw or deposit cash including a cash machine.
Meantime in Australia, the Regional hearings on Branch closures continues to highlight the high-handed approach taken by the banks. We clearly need a similar bill in Australia to that now in operation in the UK.
Access to cash is a human right and needs to be preserved, and if banks are not willing to provide appropriate banking services, a National Bank in needed to provide services, especially in in regional areas!
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Access to cash is an essential requirement for businesses and households, and this aspect of the current Senate review into Regional Branch Closures is a critical issue.
This same issue is playing out in the UK, and today we look at a recent report which highlights some essential issues. This needs to be incorporated into the Senate’s current thinking.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Find more at https://digitalfinanceanalytics.com/blog/ where you can subscribe to our research alerts
Access to cash is an essential requirement for businesses and households, and this aspect of the current Senate review into Regional Branch Closures is a critical issue.
This same issue is playing out in the UK, and today we look at a recent report which highlights some essential issues. This needs to be incorporated into the Senate’s current thinking.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
I discuss the latest developments on the war on cash with Robbie Barwick from the Citizens Party. In the final sitting week, it’s time to give the politicians a final serve in the interests of the people!
Call Minister Stephen Jones and Labor Senators today to protest capitulation to the banks!
Message:
I’m calling to object to Labor’s capitulation to the banks!
Labor must stand up to the banks by doing two things this week:
Minister for Financial Services Stephen Jones: (02) 6277 7230 Stephen.Jones.MP@aph.gov.au
Click here to find the contact details of the Labor Senators from your state. https://cec.enudgemail.com.au/securl.php?nudge=y1052zpr1128&link=12460&email=robbie@citizensparty.org.au
Choice campaign webpage: https://action.choice.com.au/page/118203/action/1
Coalition banking inquiry blamed for mass branch closures
https://independentaustralia.net/politics/politics-display/coalition-banking-inquiry-blamed-for-mass-branch-closures,17015
Go to the Walk The World Universe at https://walktheworld.com.au/
In just a few hours the petition to get Parliament to consider the deep issues around the removal of branch banks – and cash access will expire.
Thanks to our followers who have made the effort to sign it. We saw a big spike in recent days.
If you have not yet make your voice heard, you still have a few hours.
https://www.aph.gov.au/e-petitions/petition/EN4244
Access to cash, and branch banking should be a civil right, safeguarded by Parliament. Its essential for a vibrant society and for business growth in Australia.
Dale Webster from The Regional And Robbie Barwick from the Citizens Party discuss the war on cash with me , and specifically the removal of branch and cash infrastructure, especially in regional areas.
https://www.theregional.com.au/post/bank-petition-chance-to-send-a-strong-message-to-canberra
The Regional is an independent news service for 37 per cent of Australia’s population (and growing)!
Dale has been tracking regional bank closures, despite the amount of cash still in use (and rising). Banks are casting a dangerous shadow.
But now there is a Petition EN4244 – Moratorium on regional bank closures and new inquiry in front of Parliament, and we have about 10 days to send a formal message to the Australian Parliament Petition. It closes on 6th October 2022.
https://www.aph.gov.au/e-petitions/petition/EN4244
Petition Reason
Private research shows regional Australia has lost 62 per cent of its banks since 1975, leaving just 1062 located mainly in clusters in larger centres. The number of towns and cities with a bank has shrunk from 1226 to 386: 575 towns that once had one or more major banks now have no form of bank at all. Another 146 towns are on the brink of complete loss of banking services, with just one major bank open. Last year, regional Australia lost 113 “big four” bank branches. Locations included 45 towns that were stripped of their last/only bank. Of these, 23 did not have a minor corporate, mutual or franchise bank to fall back on. If a similar 10 per cent cut to the branch network is made this year, 100 more branches will be lost in the next seven months: 50 towns will lose their last bank. This issue has not been looked at properly for 17 years. The Morrison Government set up a “taskforce into regional banking” as a pre-election stunt but only put representatives of the banking industry and its own politicians on it. Just one public meeting was held. Findings have not yet been delivered.
Petition Request
We therefore ask the House to impose an immediate moratorium on regional bank closures, launch a new inquiry to pick up from where Money too Far Away (1999) and Money Matters in the Bush (2004) left matters and pulp any reports that come from the coalition’s taskforce.
Go to the Walk The World Universe at https://walktheworld.com.au/
Dale Webster from The Regional And Robbie Barwick from the Citizens Party discuss the war on cash with me , and specifically the removal of branch and cash infrastructure, especially in regional areas.
https://www.theregional.com.au/post/bank-petition-chance-to-send-a-strong-message-to-canberra
The Regional is an independent news service for 37 per cent of Australia’s population (and growing)!
Dale has been tracking regional bank closures, despite the amount of cash still in use (and rising). Banks are casting a dangerous shadow.
But now there is a Petition EN4244 – Moratorium on regional bank closures and new inquiry in front of Parliament, and we have about 10 days to send a formal message to the Australian Parliament Petition. It closes on 6th October 2022.
https://www.aph.gov.au/e-petitions/petition/EN4244
Petition Reason
Private research shows regional Australia has lost 62 per cent of its banks since 1975, leaving just 1062 located mainly in clusters in larger centres. The number of towns and cities with a bank has shrunk from 1226 to 386: 575 towns that once had one or more major banks now have no form of bank at all. Another 146 towns are on the brink of complete loss of banking services, with just one major bank open. Last year, regional Australia lost 113 “big four” bank branches. Locations included 45 towns that were stripped of their last/only bank. Of these, 23 did not have a minor corporate, mutual or franchise bank to fall back on. If a similar 10 per cent cut to the branch network is made this year, 100 more branches will be lost in the next seven months: 50 towns will lose their last bank. This issue has not been looked at properly for 17 years. The Morrison Government set up a “taskforce into regional banking” as a pre-election stunt but only put representatives of the banking industry and its own politicians on it. Just one public meeting was held. Findings have not yet been delivered.
Petition Request
We therefore ask the House to impose an immediate moratorium on regional bank closures, launch a new inquiry to pick up from where Money too Far Away (1999) and Money Matters in the Bush (2004) left matters and pulp any reports that come from the coalition’s taskforce.
Go to the Walk The World Universe at https://walktheworld.com.au/
The use and availability of cash, and other banking services – especially in Regional Australia is a critical issue, and one which needs to be on the table in the current political campaigning. We know that banks have been withdrawing their services and closing branches, and that this can spell terminal decline for the surrounding area.
So the question is, how to address the decline and give local economies a boost? I am joined by Alexis Garnaut-Miller the Citizens Party Candidate for Cunningham (NSW) and Robbie Barwick Citizens Party Candidate for Victoria.
We discussed the cash ban, the need for a National Bank, and how this can be established via the Post Office Network. And we highlighted the questions to ask the candidates to test out if they understand the importance of the issue and whether they have an established policy.
We also mentioned The Regional, Dale Websters excellent work in tracking the disgusting removal of bank branches. Visit her site too! https://www.theregional.com.au/
Go to the Walk The World Universe at https://walktheworld.com.au/
