Financial literacy is more than numeracy, it requires a healthy scepticism of financial institutions and confidence in making financial decisions.
Research shows the majority of consumers have low financial knowledge and experience, but they are also prone to behavioural biases that don't help.
Our financial regulators ASIC and APRA need a board of oversight, similar to what the UK has, to keep them in check.
The government needs to learn from the mistakes in the US in sharing our credit history information to third parties.
ATM fees were already under pressure from new technologies. The question is, what will banks do to replace that revenue?