The Senate Rural and Regional Affairs and Transport References Committee has published its report on bank closures in regional Australia. Background.
Its recommendations include:
- that the Australian Government adopt a policy recognising access to financial services as an essential service. To this end, it should commit to guaranteeing reasonable access to cash and financial services for all Australians.
- that the Australian Government urgently develop a mandatory Banking Code of Conduct or Customer Service Code, incorporating a robust branch closure process, to be administered by a regulator with expertise in consumer protection.
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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
