Demand the Treasurer intervene with bank CEOs and insist they earn their taxpayer guarantees and subsidies by maintaining branch services in communities.
All Australians should support this formal petition to Parliament:
Petition EN4244 - Moratorium on regional bank closures and new inquiry
Petition Reason
Major party politicians are putting the economic security of all Australians at serious risk by their misplaced confidence in the Australian Prudential Regulation Authority (APRA), the bank regulator.
When the government and financial authorities assure you your deposits are guaranteed, don’t believe them. They have proven time and again that in a financial crash they will put the survival of banks and their powerful owners first.
Are federal MPs willing to vote for a bill that could allow the deposits of their constituents—individuals, businesses, non-profits—to be confiscated to prop up a failing bank?
Treasurer Scott Morrison has today introduced into Parliament the bill to give emergency powers to APRA, the regulator that has allowed the banks to abuse their power and positions.
