12 June 2014
Consumer advocates of a stronger, fairer financial system have launched a new national campaign that asks why billions of dollars in subsidies are given to Australia’s big four banks, supported by the Australian taxpayer.
The Customer Owned Banking Association campaign questions the cost to the community of Government guarantees to four of Australia’s most profitable companies.
COBA CEO Louise Petschler says Australians deserve a much more competitive and fair banking system.
“Australians need to understand the Financial System Inquiry is not just another Government inquiry.”
“That’s why we’ve launched our campaign for a stronger, fairer system. This is a once in a generation opportunity to put the interests of customers first and produce a more competitive banking market.”
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