INDEPENDENT NEWS

Honest Banking Facilities Essential

Published: Wed 26 Apr 2000 09:17 AM
Bank Customer Action Collective
Coordinator Suzanne Baker (07) 5781406
Spokesman Gray Eatwell (025) 329491 Media Release
The concept and need for banking services genuinely designed to offer honest banking facilities to the public was lost by past Governments and is essential to replace.
The Bank Customer Action Collective congratulate Hon Jim Anderton and the Government for the recognition of the public need for accessible and affordable banking.
The fact is that at this age of the computer, the only real way we can access our own money is through a bank account. Therefore the peoples bank could well advantage every individual in New Zealand by simply supplying us with our own money.
But be warned Jim!
Many thousand New Zealanders are already locked into modern bank products, where in most cases the family home and other assets are secured to their bank and the cost of getting out could be prohibitive.
The current "Regulatory regime governing banking" has left many consumers of bank products defenseless from their banks glutinous appetite for profit.
Therefore without compliance enforcement of the existing laws the "peoples bank" alone will be largely ineffective for most New Zealand home owners and business people, not to mention the many bank customers currently owed overcharged fees etc by their banks.
ENDS

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