subscribe to our newsletter
Small banks ask govt to invest $3m in reforms

Small banks ask govt to invest $3m in reforms

The Customer Owned Banking Association has called for funding to be allocated in the May federal Budget to implement recommendations from the Financial System Inquiry.

COBA chief executive Mark Degotardi said the Murray Report is a “landmark” report and its recommendations should be implemented without delay.

“Australian consumers will be the losers if this report is left to gather dust,” he said.

“Six million dollars has already been committed to the FSI, so it’s vital this investment is not wasted.

“Our pre-Budget submission charts a course to turn to the Murray Report’s recommendations into action.”

COBA has called on the federal government to respond to the Murray Report by May and invest up to $3 million to implement the recommendations.

COBA’s pre-Budget submission has also called for establishment of a business advisory forum to ensure stakeholders continue to be a part of the FSI implementation process.

Small banks ask govt to invest $3m in reforms
mortgagebusiness

Latest News

The central bank has warned that an increase in the non-bank sector’s market share could pose a threat to financial stability. ...

The head of Australia’s largest bank has been forced to confront the devastating impact the group’s misconduct has had on the wellbeing ...

The Australian Prudential Regulation Authority has responded to the Hayne commission interim report by saying that a good banking system is ...

FROM THE WEB

podcast

LATEST PODCAST: Emotional intelligence and its role in managerial structure

Is enough being done to ensure responsible lending?