business

Under-pressure Australian banks face fresh inquiry

3 Comments
By WILLIAM WEST

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© 2019 AFP

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3 Comments
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Australian banks need to be subjected to more regulations. The main 4 banks have been ripping off Australians and business for decades. Self regulation does not work when people are talking about money. The temptation is too great. They are unable to do the right thing. The first Government regulation should be that depositors should be paid a minimum of 60% of the gross income the banks make on their deposit. Your lucky to get 10% to 15% as it stands now. The fees and charges banks get away with charging are horrific and scandalous.

Banks should never have been privatized. The country and its citizens would be in much better financial shape if they had remained State and Federal institutions.

1 ( +2 / -1 )

Its just political virtue signalling - the banks have to remain well capitalised, the banks have to balance the needs of borrowers, depositors, shareholders. Depositors are being offered less than two percent for Term Deposits and zero on most basic accounts if these people take their money out the risk profile of the bank rises because they have to obtain the funding short fall in the money markets.

-2 ( +0 / -2 )

Banks making tens of Billions of dollars profit each year by ripping off the people. I would say they are heavily over capitalized. CEO's getting paid in the millions with millions more in stock options. The customers should be so well looked after.

1 ( +2 / -1 )

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