BRN In The Media

Collection of articles, stories and multi-media presentations about Bank Reform Now.

Should a bank use an ex-politician to help compensate bank victims?

NAB "experiment" fails as bank's victims pull the pin on ex-Victorian Premier Jeff Kennett's role as a mediator. NAB CEO Andrew Thorburn thought it was a good idea at the time. Victims had their doubts but gave the process the benefit of the doubt. Before the Kennett determinations were made the nature of the negotiations had become clear. In a near unanimous decision the victims chose to revert back to dealing directly with NAB executives who have a much better understanding regarding the deep - inner workings of their bank. A great review of the situation from champion journalist Joyce Moullakis  - The Australian.

Bankers continue to play games in the battle for compensation

The delay, deny, deceive routine has had its day. It's now twelve months since Commissioner Hayne put out his final report on the Banking Royal Commission. It's no secret that banks behave badly. The secret is that despite all the revelations many bankers are still trying to mess with the minds of victims and avoid paying proper compensation. The game playing days are also over. Victims are giving their banks accurate, helpful and informative material and the staffers involved just can't handle it so they ignore it or respond inappropriately. What are they thinking? That we'll forget about it? That we'll give up and go away? That we'll take a token offering to shut up?

This article from The Australian's Joyce Moullakis highlights the types of cases that the Royal Commission deliberately ignored. How long before the banks start treating their customers with respect? The delays in settling the some of the most serious legacy cases is now beyond outrageous.

Westpac's Maxsted apologises for culture and governance failures

"Sorry" didn't cut it at Westpac's 2019 AGM. Shareholders grilled and heckled Westpac chairman Lindsay Maxsted for more than six hours at the AGM, putting the board on notice that further accountability will be sought.

The AGM came just weeks after the financial crimes regulator Austrac launched legal action in the Federal Court against the bank, alleging 23 million breaches of anti-money laundering laws, including links to payments funding child exploitation.

A beaut report from Joyce Moullakis & Richard Gluyas.

CEO Maxsted stands up against shareholder anger in a 6 hour marathon

Something doesn't add up with Westpac's performance leading up to the Austrac scandal and it's not looking too good after a traumatic AGM. The Australian's Joyce Moullakis reports.

Westpac Board Guilty Of Fees For No Service

It was a very angry group of shareholders that pointed out the Westpac boards gross shortcomings at the 2019 AGM. Nothing like this has been seen since the Foreign Currency Loan / Westpac letters scandal in the early '90s. The bank's lawyers were up to their necks in crooked and unethical conduct then and as far as we can see bank lawyers feel they can get away with anything even now.

Are the banks fit for purpose?

Questions need to be asked about the state of Australia's banking system. Clearly there is something very wrong when billions of dollars are being set aside to remediate clients who have been ripped off one way or another. The banking model is flawed. It is not designed to provide a meaningful service to customers. Banking is taking far too much of the county's wealth to benefit international elite interests. This powerful article from The Australian's Joyce Moullakis is well worth a read. It will trigger thoughts regarding the nature of the banks' commitment to remediation. A lot of money has been set aside - but how much will actually end up in customers' pockets?

Now The World Knows About NAB

Bank chairman resigns, along with chief executive Andrew Thorburn, after heavy criticism in the royal commission report .. and The Guardians international readership has been informed. Great work from Paul Karp.

The Verdict Is In ..... The Banks RC must be made longer and stronger

Victims of misconduct say the royal commission has only just begun the work of exposing problems in the financial system. The Guardian's Martin Farrer and Gareth Hutchens look at why the Hayne Royal Commission just hasn't done the job required. They interview several advocates for reform including BRN's Dr B. Also - available to download the BRN 10 Reasons The RC Needs turbocharging.

The  buck stops with  Matt Comyn

All the MPs interviewing Matt Comyn have done a magnificent job. BRN gives kudos to each and every one of them. This article from the AFR's James Eyers is a beaut - kudos to James too. Matt Comyn has work to do. Victims of bank crimes are now organised. We are not going away. The only measure we have is the way banks remediate aggrieved customers and how they act to prevent crimes and misconduct in the future. The environment has now changed. Banks, their directors and their CEOs need to recognise that and change the way they are doing  business. The people want an honest financial service system .... we are not here to be fleeced.

BRN Advisory Panel Member Michael Sanderson Makes The Case Loud & Clear

Angry victims of financial misconduct are calling for a bank-funded legal aid service as they struggle to match the legal power of the big banks. Michael Sanderson has campaigned with great tenacity and determination. He met with and contacted a huge number of politicians in Canberra to show them that effective legal aid was not only doable .... it is essential. Journalist Eryk Bagshaw recognised a good idea when he heard it. Many politicians have also heard the call. At the October meeting in Canberra the bank CEOs will also hear about that and other elements of justice heading their way.

Pages

Subscribe to RSS - BRN In The Media

Bank Victims Horror Stories

From Extend RC Parliament Event
>> See ALL Horror Stories List

Bank victims, supporters and concerned citizens want to see...
ANZ CEO Shayne Elliott finally admits documents they used...
In the past bankers liked to present themselves as...
How low can a bank go? Setting up a farmer to strip the...

Recent News & Articles

Morrison must lead effectively to save Australia from a...
It's time to kill the CASH BAN Bill. Many pollies are too...
In a country as wealthy as Australia why are we seeing such...

Need Support?

Financial Help
Tips & Resources to help you avoid or manage financial difficulty...

>> read more 

Emotional Help
Financial stress is a major factor in depression and anxiety, if you are suffering you can get help...

>> read more 

Poll

Should bank CEOs and loan officers face asset seizures and jail terms for criminal banking practices?

Socialize with us

Join BRN -Take Action



               


Go to top