Alternative means of providing banking and like services in regional Australia
Media Releases

Media release, 15 February 1998

BANKING SERVICES IN REGIONAL AUSTRALIA

Banking industry representatives will be taken to task at the first public hearing into alternative means of providing banking services in regional Australia in Sydney on Wednesday and Thursday this week.

The Chairman of the Financial Institutions Committee, Mr David Hawker, described this as the beginning of a process that can help to ensure that Australians in regional and remote Australia, and wherever else banks are closing down, have access to those financial services which are essential features of modern living.

Mr Hawker said, "there has been a strong response to the inquiry with over 80 written submissions received from a wide variety of community groups, industry groups, financial institutions and individuals."

"We want to identify how financial services will be delivered in the future and whether they will meet the needs of people in regional Australia, where rationalisation of the traditional bank branch network is having the most severe effect."

The submissions received thus far have identified a large number of issues for the inquiry to address, they include:

• the impact on the elderly, recipients of government payments and low income earners
• lack of community consultation on the part of banks
• banks lack of understanding of rural customers financial needs
• effects of bank closures on small and medium sized businesses
• lack of infrastructure to support new technologies and the slow pace of extension of that infrastructure
• cost to consumers of accessing new technologies

"The Committee does not underestimate the complexity of these issues and acknowledges that a number of strategies will be required if solutions are to be found." said Mr Hawker.

Mr Hawker added, "I want to stress that this inquiry is not a 'get the banks' exercise, we want to see what banks are prepared to offer as an alternative and we also want to see what other service providers might be prepared to do for regional Australia."

Release ends // 15 February 1998

Further information:
David Hawker MP (Chairman) 02 - 6277 4837
Christopher Paterson (Secretary) 02 - 6277 4587
e-mail: EFPA.Reps@aph.gov.au

PUBLIC HEARINGS PROGRAM - SYDNEY
18-19 February 1998

Conference Room, 11th Floor
Commonwealth Parliamentary Office
ANZ McCaughan House
70 Phillip Street
SYDNEY

Wednesday 18 February 1998

• 9.15 am - 10.30 am Australian Bankers' Association
• 10.45 am - 11.30 pm Dr Greg Walker
• 11.30 am - 12.00 pm Country Women's Association of NSW
• 1.00 pm - 2.00 pm Local Government and Shires Associations of NSW
• 2.00 pm - 3.00 pm Australian Pensioners' and Superannuants' Federation
• 3.15 pm- 3.45 pm Australian Council of Businesswomen
• 3.45 pm - 4.45 pm NSW Farmers' Association

Thursday 19 February 1998

• 9.00 am - 10.00 am St George Group
• 10.00 am - 11.00 am NSW Government
• 11.30 am- 12.00pm Internet Industry Association
• 12.00 pm - 12.45 pm Consumers' Federation of Australia

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