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Federal Government: An independent inquiry into banking

Since the Global Financial Crisis, competition in the banking sector has significantly decreased to the detriment of consumers.

Changes to Government regulations designed to promote consumer confidence during the GFC have benefitted the major banks at the expense of customer owned banking institutions such as credit unions, building societies and mutual banks.

The evidence is clear and there is now an imbalance in banking, which is bad for consumers, competition and choice.

In fact the choice is actually pretty clear – we need to get the balance right now or risk less competition and poor outcomes for everyday Australians in the future.

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    Abacus Customer Owned Banking started this petition with a single signature, and now has 546 supporters. Start a petition today to change something you care about.