Laws to cut red tape for mutual banks take shape

05 October 2018

The Australian

BCCM CEO Melina Morrison was quoted in The Australian in an article discussing the government pushing ahead with laws aimed at freeing up the mutual banking sector from unnecessary regulations.

The Business Council for Co-operatives and Mutuals has worked for more than a year on behalf of lenders such as Bank Australia, CUA, Heritage Bank and Teachers Mutual Bank, to lobby on the design of the new laws.

“This will ensure there is genuine competition for member-owned business to compete with the big corporates and create real competition to benefit all Australians,” BCCM chief executive Melina Morrison said. “New legislation is needed to make the Australian Corporations Act work better for mutually owned businesses, so that they can compete on a level playing field with other types of firms.”

Read the full article, Laws to cut red tape for mutual banks take shape, The Australian, 5 October 2018