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BANDT, FARUQI: Big banks failing homeowners who deserve mortgage holiday too

This morning’s decision by the big four banks to do nothing for homeowners risks putting families out on the streets, Leader of the Australian Greens, Adam Bandt MP, and Housing spokesperson, Mehreen Faruqi, said today, calling for the government to get big banks to give vulnerable homeowners a residential ‘mortgage holiday’ to make sure families don’t lose their homes.

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ANZ fleecing customers: Bandt

Adam Bandt 29 Oct 2013

ANZ's record profit announced today is a result of the big banks fleecing customers, Greens Deputy Leader and banking spokesperson Adam Bandt said today. ANZ has increased its profit by 11 per cent to $6.49 billion and it comes as the big four banks are predicted to lift their annual profits to over $27 billion this year.

"Everyday Australian's bank balances have bled to feed this record profit. It is no wonder so many Australians see the big four as vampires." Mr Bandt said.

"A stable financial sector shouldn't come at such a high cost to everyday consumers."

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RBA, ASIC must answer to Parliament on corruption claims: Bandt

Adam Bandt 30 Sep 2013

Greens Deputy Leader, Adam Bandt, has called for an inquiry into the Reserve Bank of Australia following disturbing new claims of illegal approaches to Saddam Hussein's regime, as well as demanding ASIC explain why it is turning a blind eye to the RBA's corporate activities.

"Most Australians would be shocked to know their central bank was using their money to line up dirty deals with Saddam Hussein," said Mr Bandt.

"The stench surrounding the Reserve Bank gets worse and a full inquiry is needed to clear the air."

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Greens will limit levy to big four banks

Adam Bandt 2 Aug 2013

Greens Deputy Leader and Federal Member for Melbourne says the Greens will use their numbers in the Parliament to limit the government’s bank levy to the big four banks only, so that it won’t be passed on to consumers.
 
Mr Bandt says the Greens have been pushing for a levy for over two years but the government’s model may mean the levy gets passed on to consumers rather then coming off bank profits.
 
“The government has made a mistake by widening the levy beyond the big four banks,” Mr Bandt said.
 

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Labor set to adopt Greens bank levy

Adam Bandt 1 Aug 2013

Greens Deputy Leader, Adam Bandt, has welcomed reports that the government may adopt the Greens' bank levy policy in tomorrow's economic statement.

However, Mr Bandt warned the government risked the possibility of the levy being passed on to consumers, and undermining competition if it applied to smaller banks as well as the big four.

"Labor looks set to adopt the Greens' bank levy," Mr Bandt said.

"I welcome Labor's support for Greens economic policy."

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Time to tax big banks more: Bandt

Adam Bandt 24 Jun 2013

With our big banks the most profitable in the world and the government struggling to raise revenue, it is time for Australia to follow other countries’ lead and impose a levy that would net Commonwealth coffers $11bn, said Greens Deputy Leader and banking spokesperson, Adam Bandt.
 
"The big banks can make these record profits because the government underwrites their activities and boosts their bottom lines by billions," Mr Bandt said.
 

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Banks credit card gouge must stop: Bandt

Adam Bandt 13 May 2013

Greens Deputy Leader and banking spokesperson Adam Bandt MP says something must be done to rein in the big banks who are gouging credit card customers. Reports in today's Fairfax papers show that while the RBA has cut interest rates by 2% in the last two years, banks cut credit card interest by only 0.12 percent.

"The big banks are engaged in rampant profiteering," Mr Bandt said.

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Banks must pass on rate cut in full: Bandt

Adam Bandt 7 May 2013

The big banks are making record profits and must pass on in full today’s Reserve Bank interest rate cut, Greens Deputy Leader and banking spokesperson Adam Bandt said.
 
“The banks are making a motza at the moment and they can afford to pass this rate cut on in full”, Mr Bandt said today.
 
“Labor can’t sit on its hands. Something needs to be done to rein in the big banks. The banks have been riding roughshod over their customers and the taxpayers who are underwriting their profits."
 

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Westpac profit build case for bank levy: Bandt

Adam Bandt 3 May 2013

Labor needs to have the guts to act on another record profit from one of the big four banks, says Greens Deputy Leader and banking spokesperson Adam Bandt MP. Mr Bandt has previously outlined a proposal for a 'Public Support Levy' on the big four banks in return for the implicit "too-big-to-fail" policy of the government that underwrites their activities. Westpac has announced a 10 per cent jump in first-half cash earnings to a record $3.525 billion.

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Profits mean bank levy must be on Budget agenda: Bandt

Adam Bandt 30 Apr 2013

Greens Deputy Leader and banking spokesperson Adam Bandt MP says another record profit from ANZ announced today means the government should look to raise revenue from the big four banks.

The ANZ Bank announced a half-year net profit of $2.94 billion today and Westpac and NAB are expected to announce half-year profits of a similar magnitude. The Commonwealth Bank posted a $3.66 billion net profit in its first half in February.

"If ruled-out options are now back on the table, that should include fixing the mining tax and putting a levy on the big banks."

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