Regional Australia “can’t put the genie back in the bottle” as banking services move online and local branches shut their doors. But community banks could be one option to keep rural economies alive and give locals the face-to-face services they need; a federal inquiry has been told. A Senate committee is examining the impact of…
Australian Consumer Watchdog to Probe Banks’ Deposit Rates Amid Concerns About Unfair Practices
January 11, 2023
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Australiabig four banksBusiness & Marketsdeposit rateseconomic policieseconomyInvestmentJim Chalmerspersonal financeWorld
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Australian Treasurer Jim Chalmers has asked the country’s competition authority to investigate the deposit rates banks are offering savers due to concerns about the delays in rate increases. In an interview with the Australian Financial Review, the treasurer noted that consumers should have received a boost to their saving rates by now. “Banks should treat…
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