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It's time to break up the banks: Greens

Leader of the Australian Greens Dr Richard Di Natale and Treasury Spokesperson Sen. Peter Whish-Wilson today unveiled a proposal for a sweeping overhaul of our banking and financial services sector, as well as the regulatory and governance system underpinning it. Simply put: it's time to break up the banks.

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Pressure of impending Bank Royal Commission continues to reap dividends for public

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ScoMo should bring forward the account portability measures to stick it to the big banks

Greens Treasury spokesperson, Senator Peter Whish-Wilson, is calling on Scott Morrison to bring forward the account portability measures in the budget, to make it harder for the big banks to pass on costs to customers.

Senator Whish-Wilson said, “The Greens took full bank account portability as a policy to the 2016 election. Bringing this in would allow customers to change bank accounts with a couple of mouse clicks.

“If we brought forward bank account portability, then the first bank to put up fees would be faced with an immediate exodus of customers.

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ANZ fleecing customers: Bandt

Adam Bandt 29 Oct 2013

ANZ's record profit announced today is a result of the big banks fleecing customers, Greens Deputy Leader and banking spokesperson Adam Bandt said today. ANZ has increased its profit by 11 per cent to $6.49 billion and it comes as the big four banks are predicted to lift their annual profits to over $27 billion this year.

"Everyday Australian's bank balances have bled to feed this record profit. It is no wonder so many Australians see the big four as vampires." Mr Bandt said.

"A stable financial sector shouldn't come at such a high cost to everyday consumers."

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RBA, ASIC must answer to Parliament on corruption claims: Bandt

Adam Bandt 30 Sep 2013

Greens Deputy Leader, Adam Bandt, has called for an inquiry into the Reserve Bank of Australia following disturbing new claims of illegal approaches to Saddam Hussein's regime, as well as demanding ASIC explain why it is turning a blind eye to the RBA's corporate activities.

"Most Australians would be shocked to know their central bank was using their money to line up dirty deals with Saddam Hussein," said Mr Bandt.

"The stench surrounding the Reserve Bank gets worse and a full inquiry is needed to clear the air."

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Labor set to adopt Greens bank levy

Adam Bandt 1 Aug 2013

Greens Deputy Leader, Adam Bandt, has welcomed reports that the government may adopt the Greens' bank levy policy in tomorrow's economic statement.

However, Mr Bandt warned the government risked the possibility of the levy being passed on to consumers, and undermining competition if it applied to smaller banks as well as the big four.

"Labor looks set to adopt the Greens' bank levy," Mr Bandt said.

"I welcome Labor's support for Greens economic policy."

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