Banking is an essential service that is critical to the wellbeing of consumers, small businesses and community organisations in regional Australia. However, accelerating branch closures are creating vast ‘banking deserts’ in regional Australia. These closures have resulted in an increasing number of people being excluded from accessing banking services.
Consumer groups, financial counsellors, and community legal centres welcome the Regional Banking Taskforce examining access to banking services in regional Australia. Australia’s banks and financial institutions have been cutting services to regional Australia at an alarming rate. This submission makes several recommendations and policy solutions to assist people in regional Australia.
Read the full submission (PDF).211215 – Joint consumer submission to Regional Banking Taskforce