To: Prime Minister Malcolm Turnbull

We demand a Banking Industry Royal Commission

It’s time for a royal commission into the Australian banking industry.

Recent allegations of misconduct by the big banks have included:
- Rigging interest rates so they hurt mortgage holders
- Dodgy insurance policies to rip off sick and dying people
- Financial planning scandals which lost customers' retirement savings
- And overcharging people with excessive penalty and late fees.

Enough is enough. Australian workers deserve banks that looks after their interests, not just the interests of CEOs and merchant bankers.

Why is this important?

Australia's big banks mishandle, mismanage and misappropriate our hard earned wages on a daily basis. And the Liberals haven’t done a thing about it. If former investment banker Malcolm Turnbull is serious about cleaning up the banks, he can't sit on his hands any longer while workers are getting ripped off.

We're sick of the way we're being treated by the banks, and believe the best way to get to the bottom of the problems in an industry riddled with fraud, corruption and mismanagement is with a royal commission.

Category


Reasons for signing

  • They are nothing but criminals. This criminal behaviour is planned and systematic, so why is it called "mishandle, mismanage and misappropriate" instead of what it really is-"organised crime?"
  • Currently before parliament is a bill, the Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Bill 2017, gives the bank regulator APRA (Australian Prudential Regulation Authority) sweeping crisis resolution powers, including that “bail in” the savings of unsuspecting bondholders and even depositors to prop up failing banks. Bail-in is exactly how the government of Cyprus gave banks the power to steal depositors funds.
  • Huge profits and less service and the continual closure of branches equates to loss of jobs and loss of our valuable time as you wait in line.

Updates

2016-09-09 05:40:33 +1000

500 signatures reached

2016-04-08 20:20:43 +1000

100 signatures reached

2016-04-08 17:53:36 +1000

50 signatures reached

2016-04-08 16:36:43 +1000

25 signatures reached

2016-04-08 16:05:06 +1000

10 signatures reached