Banks are under political pressure to follow Commonwealth Bank’s decision to pause regional bank closures while a parliamentary inquiry is held this year.
Advertisementto account regarding interest rates on deposits and loans, and how they are treating vulnerable customers amid the cost-of-living pressures.
A Commonwealth Bank spokesman said: “Following consideration of a request from the Senate committee, CBA will not close any regional branches while the inquiry is under way in 2023. “We continue to welcome constructive engagement with government, industry and communities – an approach demonstrated by our recent work with all members of the regional banking taskforce.
The Australian Citizens Party, which wants the government to set up a public bank similar to New Zealand’s Kiwibank, lobbied MPs and senators to establish the inquiry.
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