Local, Independant and Effective

Independent push for banking code of conduct

March 30, 2017

Independent Member for Indi Cathy McGowan has joined with Independent Member for Denison Andrew Wilkie to push for the establishment of a mandatory code of practice for the banking industry.

In a question to Mr Wilkie in Parliament about the Banking Amendment (Establishing an Effective Code of Conduct) Bill 2017 Ms McGowan said the action showed the importance of independent voices in Parliament.

“This Bill shows the importance of having independent representation for our communities,” Ms McGowan said, urging the government to fully consider the Bill so that “this important matter can be fully debated and people informed”.

Ms McGowan, who seconded the Bill, said that the issues of disclosure of fees, debt collection and complaints handling were well known.

“People want to feel like someone is listening, in the bank and in the Parliament. I urge the government to bring this Bill on for debate.”

Ms McGowan has previously supported the establishment of a Royal Commission into banking.

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