Digital Finance Analytics (DFA) Blog
"Intelligent Insight"
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/
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The RBA Review has been released, and I discuss the recommendations with Robbie Barwick from The Citizens Party, which will removed important powers from Government and reaffirms the neoliberal philosophy which has undermined our economy for years.
The final week for submissions to the Regional Banking Inquiry also offers an important opportunity to make the case for a National Postal Bank, as an antidote to the banking drive to control our lives.
https://citizensparty.org.au/media-releases/64-more-towns-nabs-regional-bank-firing-line
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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
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Great article from The Conversation which discusses how deposit interest rates are not rising as they should, giving the banks the opportunity to bolster their profits.
As I discussed recently with Steve Mickenbecker from Canstar, people need to be careful, as the market is very misleading, or worse.
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An update on Regional Bank closures with Robbie Barwick from the Citizens Party. Some news is good but some also bad. So we go through this week’s events.
We also highlight the broader agenda around the future of banking, the role for a National Bank, and reason why the commercial banks are dragging their feet, and disrespecting parliament.
The media finally get on the story – better late than never.
https://gerardrennick.com.au/senate-inquiry-regional-bank-closures/
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Bank Branch closures were discussed on ABC Illawarra this morning – and I was able to discuss the policy and practical issues surrounding this important issue in my interview.
It also led the local headlines this morning.
Link to Senate Inquiry: https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Rural_and_Regional_Affairs_and_Transport/BankClosures
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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….
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The latest from our surveys relating to households in Regional areas versus Suburban and City areas with a focus on the use of branches, and access to cash.
We find that regional areas are much heavier users of branches and cash, relative to other areas – and Canberra in particular.
This may well explain why those based in the ACT are so far removed from the real issues faced every day by regional households and businesses.
Time to get the Senate to start their review, as I discussed with Robbie Barwick in my live show recently. https://youtu.be/OijlQNTVwtU
http://www.martinnorth.com/
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This is an edited version of a live discussion with Robbie Barwick from the Australian Citizens Party. In this show we will dissect the current financial system and consider how banking can be brought into line to serve the people, not profit from them.
Go to the Walk The World Universe at https://walktheworld.com.au/
Join me for a live discussion with Robbie Barwick from the Australian Citizens Party. In this show we will dissect the current financial system and consider how banking can be brought into line to serve the people, not profit from them.
You can ask a question live!
Go to the Walk The World Universe at https://walktheworld.com.au/