Victims of immoral or illegal conduct by financial services institutions are invited to tell their stories at a banking roundtable in Newcastle on Friday.
Federal Member for Newcastle Sharon Claydon said she called the roundtable to shine a light on how the misconduct of banks and big finance is affecting people in the Newcastle-Hunter region.
“I’m aware of a number of shocking cases of misconduct that have had dire impacts on people and their families in our community,” Ms Claydon said.
“The roundtable will bring together banking victims and representatives from community organisations who see the impacts of banking misconduct in their work every day.”
Ms Claydon said she expected stories from the roundtable would help support the case for the Banking Royal Commission to visit regional communities like Newcastle.
“The Banking Royal Commission is doing great work bringing shocking evidence of appalling misconduct to light – from fees for no service, to predatory lending, contempt for regulators and straight-up breaches of the law,” Ms Claydon said.
“But the Commission has only been able to hear evidence from 27 victims, despite receiving over 9,000 submissions. This isn’t good enough. Australians right across the country deserve their chance to be heard.”
Ms Claydon said Morrison Government had repeatedly tried to block or diminish the scope of the Banking Royal Commission.
“Scott Morrison never wanted this Royal Commission. He ran a protection racket for the big banks for 600 days and voted against it 26 times. He called it a ‘populist whinge’ and a ‘reckless distraction’. And then he spent his last year as Treasurer trying to reward the big banks with a $17 billion tax cut.
“Labor called for this Royal Commission, Labor fought for this Royal Commission, Labor will allow victims to have their say, and Labor will work day and night to protect Australian businesses and consumers from this appalling misconduct.”
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