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Banks Gone Bad Australia

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25.01.2022 Public banking in the USA is enjoying a comeback, spurred on by greedy banks. Sound familiar? The first publicly owned bank was founded in 1991 and is currently trading at a significant profit. While I favour free enterprise, if the Government is owned by the banks, which it is, this may be an avenue to break that hold.... https://www.truthdig.com//the-public-banking-revolution-i/ See more

20.01.2022 We have had responses flooding in, revealing a widespread support for our idea from the full range of smaller parties and Independents. We have had endorsements from some parties, so click through and see how your party went. If you are looking for Liberal or Labour of course, forget that. When asked to actually commit to a banking victim friendly policy. both the majors opened our email then ignored it. What a surprise.... https://www.banksgonebad.com.au/election/candidate-response See more

18.01.2022 We have asked 1030 Federal election candidates if they support repurposing the existing $6.2 billion bank super-profits tax to provide compensation for banking victims. Follow #OurMoneyBackNow for responses. #auspol2019 https://www.banksgonebad.com.au/election-2019

14.01.2022 ABC banking victim stories. None of these cases would have happened if ASIC had done their job and ensured the banking code of practice, and the Australian Standard for dispute resolution contained therein, were followed. This carnage is on ASIC! The new Parliament has a high duty to make this right by holding an Inquiry into banking regulation, codifying the banking code of practice into law and allocating funds from the bank levy for historical cases of bank fraud such as ...the ones in this article. https://www.abc.net.au//you-decide-legal-represe/11059398

13.01.2022 We had a win! Australian Banks, under the guidance of the ABA have been reducing your rights with new banking codes and then applying those changes to past contracts YOU SIGNED. Banks Gone Bad paid for a legal opinion that found the banks cannot change a contract after you signed it! We and our allies made the AFCA, the ABA, ASIC and the Treasurer well aware that banks were in contravention of contract law by doing this.... Well, we won. This week the AFCA has declared that the code they will decide legacy disputes under is the one you signed, not the ABA’s later watered down versions. In most cases this is the 2003 code, that gave you the right to a fair and free dispute resolution system (IDR). This includes an international standard ISO Quality Dispute System that the banks never implemented. That system would have prevented most of the baking scandals from happening. More details on our website on this link. https://www.banksgonebad.com.au/banks-gone-bad-declares-a-w

09.01.2022 Read on. Time to investigate the regulators or nothing will change

06.01.2022 "The NZ central bank’s plan is to lift the minimum capital requirement for systemically important banks from 10.5 per cent to 18 per cent, with higher-quality tier-one capital to be raised from 8.5 per cent to 16 per cent" Those are huge increases. One wonders what the NZ Central Bank knows. https://www.theaustralian.com.au//d7c13bb9146e4b8a12ed681e

06.01.2022 URGENT! Does anyone have a copy of the original 1995 Banking Code of Conduct please. You can email to [email protected] or send reply to this post. THANKS

05.01.2022 Finally some good news. I hope this means that the tide is turning against the banks in Courts of Law. Disabled couple taken advantage of by Perpetual Trustees. Judge tears up the mortgage and orders repayments to be returned. Congratulations to Dale and Faith Blair and well done to Justice Eric Heenan.... https://thewest.com.au//court-win-for-disabled-couple-ng-y See more

04.01.2022 AFCA will start publishing the names of the financial services companies, including banks, that have had a judgement at the AFCA go against them. What a great way to force banks to do better. Customer owned banks should do very well out of this. Starts October 1st. We need to make sure it happens.... https://www.theaustralian.com.au//a25b957ab5b43a5beb614d38

03.01.2022 ASIC is getting ready to ban 'toxic' financial products. Couldn't happen soon enough... Motley Fool on the ways in which financial products are designed to cost you money. SomFool. https://us3.campaign-archive.com/

02.01.2022 Interest rate cut: "Encouraging more debt to buy houses will only make the inevitable unwinding more painful, with 10 years evidence it will fuel real estate & not much else. Business have not increased productive investment, the main point of cutting rates" Why are businesses not growing their productive investments? Could it point to a complete lack of faith in the Australian economy after a century of growth? Or is it that the banks have no interest in lending to SMEs whil...e they can lend against secured real estate instead? Is real estate all banks can do now? Do we need a business bank , a people's bank again? History repeats. https://www.theaustralian.com.au//6aac55a1baff67a8cc69794b

01.01.2022 "Finds"? This is like the watergate tapes. Offering a tiny bit up in the hope that this time, this much, will be enough to appease the public. It will not. Jail. Jail will appease the public.

01.01.2022 So the NAB intend to continue being crooked pricks then.