Banks could face levy for failing to meet ‘baseline’ services in regional Australia, Treasury proposal suggests

Confidential report comes in the wake of Senate inquiry which highlighted ‘deficiencies in branch closure processes’ across regional areasGet our breaking news email, free app or daily news podcastAustralian banks would have to meet a minimum level of service in regional areas or contribute funding to bolster the number of branches and ATMs offered by other institutions, in a proposal put forward by Treasury.According to a confidential report sent to bankers this week, seen by Guardian Australia, Treasury has outlined two proposals to better support the presence of in-person branches and ATMs.Sign up for Guardian Australia’s breaking news email Continue reading...

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Nov 16, 2024 - 02:00
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Banks could face levy for failing to meet ‘baseline’ services in regional Australia, Treasury proposal suggests

Confidential report comes in the wake of Senate inquiry which highlighted ‘deficiencies in branch closure processes’ across regional areas

Australian banks would have to meet a minimum level of service in regional areas or contribute funding to bolster the number of branches and ATMs offered by other institutions, in a proposal put forward by Treasury.

According to a confidential report sent to bankers this week, seen by Guardian Australia, Treasury has outlined two proposals to better support the presence of in-person branches and ATMs.

Sign up for Guardian Australia’s breaking news email Continue reading...

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