Clare O'Neil on Labor’s listening tour for banking victims
Shadow minister for financial services Clare O'Neil says the ALP exercise will give a voice to people in areas the Royal Commission hasn't had time to visit.
The financial services industry is in need of a new paradigm to rediscover what finance is for – to improve the financial and economic well-being of society.
With enough will and resourcing, many of the structural issues that make financial services a trial for many Indigenous consumers can be overcome. But we need more regulation to deter sharp practice.
Westacott is on the frontline in what has become the toughest of gigs, given the shocking disclosures, and subsequent fallout, in the financial sector.
This bald-faced refusal to acknowledge their own inconvenient history in part comes from the politicians’ belief that if you just burnish the “spin”, you can get away with saying anything.
The Australian Banking Association says ‘nearly 80% of bank profits go straight back to shareholders’, the majority of whom are ‘everyday Australians’. Is that right?
Seldom is a government’s impotence and frustration as much on display as it was when Malcolm Turnbull finally capitulated and announced he would set up a banking royal commission.