Banks called on to explain mass branch closures

Australia News News

Banks called on to explain mass branch closures
Australia Latest News,Australia Headlines
  • 📰 abc730
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 63%

Sarah Ferguson presents Australia's premier daily current affairs program, delivering agenda-setting public affairs journalism and interviews that hold the powerful to account. Plus political analysis from Laura Tingle.

RHIANNON SHINE, REPORTER: It's a busy day at this bank in the inner Perth suburb of Wembley.VOX POP 2: I am really, really annoyed that they have put money and profits before their customers.

RHIANNON SHINE: Wendy Streets from the Finance Sector Union says these scanned documents sent to 7.30 show the bank has been pushing customers away from their bricks-and-mortar stores for years. RHIANNON SHINE: Across Australia, the number of total bank branches has fallen from about 5,700 in 2017 to just 3,500 last year.The trend is really being felt in the country’s regional and remote communities including in the Pilbara town of Tom Price, which lost its only bank branch, a Westpac, over a year ago.

CARLEN WOODS, KASHBURTON ABORIGINAL CORPORATION: The digital divide is huge. We have a lot of our communities that do not have access to reliable phone network, internet networks are lacking. ROBBIE BARWICK, AUSTRALIAN CITIZENS PARTY: Our party represents the citizens. We are frustrated that the reason we exist, we believe, is because the major parties too often represent vested interests, and they leave the citizens behind.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

abc730 /  🏆 14. in AU

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Sarah Ferguson Interviews Fran LebowitzSarah Ferguson Interviews Fran LebowitzSarah Ferguson interviews Fran Lebowitz about her opinions and observations on modern life as a flaneur.
Read more »

President Ferdinand Marcos Jr speaks to 7.30’s Sarah FergusonPresident Ferdinand Marcos Jr speaks to 7.30’s Sarah FergusonTrusted and independent source of local, national and world news. In-depth analysis, business, sport, weather and more.
Read more »

Extended interview: Sarah Ferguson interviews Philippines President Ferdinand Marcos JrExtended interview: Sarah Ferguson interviews Philippines President Ferdinand Marcos JrTrusted and independent source of local, national and world news. In-depth analysis, business, sport, weather and more.
Read more »

Loan discounting outbreak threatens major banks' profitabilityLoan discounting outbreak threatens major banks' profitabilityAn outbreak of loan discounting is putting fresh competitive pressure on the major banks, posing a fresh threat to profitability following a months-long ceasefire in thepoint to a resurgence in below-the-line deals, despite the big four bank bosses – notably Commonwealth Bank’s Matt Comyn – vowing they would price more rationally to protect their shrinking profit margins.
Read more »

Singapore Backs Australia Over AUKUS Submarines, Undercutting Keating's ClaimSingapore Backs Australia Over AUKUS Submarines, Undercutting Keating's ClaimSingapore supports Australia's decision on AUKUS submarines, contradicting former prime minister Keating's claim. Prime Minister Lee Hsien Loong advises China to drop trade sanctions against Australia and highlights Australia's role in regional security and stability. Keating calls for the sacking of Australia's spy chiefs for undermining ties with Beijing.
Read more »

Banks are the only ones benefiting from end of cash economyBanks are the only ones benefiting from end of cash economyBank branches and ATMs are vanishing as financial institutions make it harder for us to use cash.
Read more »



Render Time: 2025-02-15 18:29:18