Finsec’s sister union, the Finance Sector Union of Australia, has today been part of the launch of a new watchdog for the financial system. The Australian Financial Integrity Network (AusFIN) is a broad network of organisations to promote, educate and advocate for changes it wants the Australian Government to adopt as part of its banking reforms.
Among its members are superannuation lobbyist Industry Super Network, consumer group Choice and the Australian Council of Trade Unions. AusFIn says it wants a financial system that functions in “an accessible, affordable and fair manner reflecting its status as an essential service.”
The network says that retail banks and superannuation providers should only levy fees and charges reflecting their actual costs.
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