Media release, 15 February 1998
BANKING SERVICES IN REGIONAL AUSTRALIA
Banking industry representatives will be taken to task at the first
public hearing into alternative means of providing banking services in
regional Australia in Sydney on Wednesday and Thursday this week.
The Chairman of the Financial Institutions Committee, Mr David Hawker,
described this as the beginning of a process that can help to ensure that
Australians in regional and remote Australia, and wherever else banks
are closing down, have access to those financial services which are essential
features of modern living.
Mr Hawker said, "there has been a strong response to the inquiry with
over 80 written submissions received from a wide variety of community
groups, industry groups, financial institutions and individuals."
"We want to identify how financial services will be delivered in the
future and whether they will meet the needs of people in regional Australia,
where rationalisation of the traditional bank branch network is having
the most severe effect."
The submissions received thus far have identified a large number of
issues for the inquiry to address, they include:
- the impact on the elderly, recipients of government payments and low
income earners
- lack of community consultation on the part of banks
- banks lack of understanding of rural customers financial needs
- effects of bank closures on small and medium sized businesses
- lack of infrastructure to support new technologies and the slow pace
of extension of that infrastructure
- cost to consumers of accessing new technologies
"The Committee does not underestimate the complexity of these issues
and acknowledges that a number of strategies will be required if solutions
are to be found." said Mr Hawker.
Mr Hawker added, "I want to stress that this inquiry is not a 'get the
banks' exercise, we want to see what banks are prepared to offer as an
alternative and we also want to see what other service providers might
be prepared to do for regional Australia."
Release ends // 15 February 1998
Further information:
David Hawker MP (Chairman) 02 - 6277 4837
Christopher Paterson (Secretary) 02 - 6277 4587
e-mail: EFPA.Reps@aph.gov.au
PUBLIC HEARINGS PROGRAM - SYDNEY
18-19 February 1998
Conference Room, 11th Floor
Commonwealth Parliamentary Office
ANZ McCaughan House
70 Phillip Street
SYDNEY
Wednesday 18 February 1998
- 9.15 am - 10.30 am Australian Bankers' Association
- 10.45 am - 11.30 pm Dr Greg Walker
- 11.30 am - 12.00 pm Country Women's Association of NSW
- 1.00 pm - 2.00 pm Local Government and Shires Associations of NSW
- 2.00 pm - 3.00 pm Australian Pensioners' and Superannuants' Federation
- 3.15 pm- 3.45 pm Australian Council of Businesswomen
- 3.45 pm - 4.45 pm NSW Farmers' Association
Thursday 19 February 1998
- 9.00 am - 10.00 am St George Group
- 10.00 am - 11.00 am NSW Government
- 11.30 am- 12.00pm Internet Industry Association
- 12.00 pm - 12.45 pm Consumers' Federation of Australia
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