Time for banks to share the spoils

Finsec’s sister union the FSU has called on the big Australian banks to share the profits with those that provided it, the Australian community.

National Secretary Leon Carter says that the big profit announcements are a significant achievement when many parts of the rest of the world are still struggling with the global financial crisis.

“The next challenge is to ensure that our banks conduct their business in a manner the Australian public finds acceptable. FSU’s research shows that Australians have major concerns about fees and charges, existing debt levels, having debt products more freely available and the sending of jobs and customer information offshore.”

“The profitability of our banks does not have to be at the expense of jobs, or achieved through excessive fees, rates and charges. With proper regulation, we can have a far healthier bank sector,” said Carter.

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