Stop 'bail-in' law that steals Australians' savings

The issue

We the undersigned call on Parliament to reject the Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Bill 2017. The bill gives the bank regulator APRA sweeping powers to prop up failing banks by confiscating the savings that Australians hold in those banks, which is known as "bail-in". At stake is the investment savings of hundreds of thousands of retirees, and the ordinary deposits of all Australians, including individuals, businesses, charities and organisations. This unjust, destructive legislation must be scrapped and replaced with the policy called Glass-Steagall, which separates banks with deposits from financial speculation, to protect both savings and banks.

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Australian Citizens PartyPetition starter
This petition had 6,326 supporters

The issue

We the undersigned call on Parliament to reject the Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Bill 2017. The bill gives the bank regulator APRA sweeping powers to prop up failing banks by confiscating the savings that Australians hold in those banks, which is known as "bail-in". At stake is the investment savings of hundreds of thousands of retirees, and the ordinary deposits of all Australians, including individuals, businesses, charities and organisations. This unjust, destructive legislation must be scrapped and replaced with the policy called Glass-Steagall, which separates banks with deposits from financial speculation, to protect both savings and banks.

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Australian Citizens PartyPetition starter

The Decision Makers

David Leyonhjelm
David Leyonhjelm
Chair of Red Tape Committee - Liberal Democratic Party - NSW
Matt Thistlethwaite
Matt Thistlethwaite
Deputy Chair of Standing Committee on Economics
Julia Banks
Julia Banks
Chair of Standing Committee on Social Policy and Legal Affairs
Scott Buchholz
Scott Buchholz
Chair of Parliamentary Standing Committee on Public Works
Kevin Hogan
Kevin Hogan
Chair of Standing Committee on Tax and Revenue

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Petition created on 9 February 2018