Bandt's bill has the attraction factor
Green Andrew is proposing a ban on those $2.00 ATM transaction fees for withdrawing cash.Politicians from the entire spectrum are liking his tune and are backing Green MP Adam Bandt's private member's bill.
Bob Katter also stuck his boot into the Government and Opposition for skinny policy offerings, though Labor Treasurer Wayne Swan has been holding its cards close to it chest. He is expected to release his plan for banking reform later this month.
Though Independent MPs Andrew Wilkie, Tony Windsor, Rob Oakeshott and Bob Katter and unaligned Nationals MP Tony Crook said Mr Bandt's bill, now before Parliament, was the most promising proposal on banking, they have yet to see the Labor Plan, but I suspect that it will be more wide ranging in terms of offering real competition to the major banks than Andrew bandt's bill. Let's wait and see on that one.
Call to action to stir Wayne Swan
The calls to action increases the pressure on Treasurer Wayne Swan, who will next month announce banking reforms that could need the support of the crossbenchers.The banks' all claim that politicians did not understand that funding costs were going up. Wilke says that this core claim is nonsense.
Mr Katter said the surge in banking chiefs' salaries also warranted attention and could be curbed through the tax system.
Mortgage Foreclosures unfair.
He called on the government to do ''something serious'' about the system of mortgage foreclosure, which was weighted in lenders' favour.
Summary of Bandt's Bill
As it stands, Andrew Bandt's proposed bill has three main areas of saings for Australian Credit users.- A crackdown on Bank Fees.
- Mortgage Rates to move in line with RBA increases
- A ban of bank transaction fees of $2.00 per transaction.
