What We Need Our Politicians To Do

We want:
  • An urgent review of banking competition to be completed by the end of 2017.
  • More focus from regulators on competition to help deliver a competitive banking market that’s good for consumers, good for the economy and good for our financial sector.
  • Implementation of the Financial System Inquiry recommendations.
  • Recognition of the customer owned business model where customer interests are not in conflict with shareholder interests.
Our agenda is important because:
  • Healthy competition is what drives the best outcomes for consumers;
  • A competitive banking market is vital for the wider economy, for real consumer choice, and for strengthening our financial sector.
  • Diversity of business models is good for stability and competition in banking. Customer-owned banking institutions put consumers first.
  • The Financial System Inquiry warned that the banking sector is concentrated and that could limit the benefits of competition in the future.
 

Competition in Banking – Infographics

 

Do we have a problem with competition in banking?

Why do we have a problem with competition in banking?

What can be done to promote competition in banking?

Do regulators care enough about competition in banking?

What are the benefits of customer owned banking?