One Nation Senator Malcolm Roberts has officially launched the campaign to prevent a watering down of the Banking Code of Practice.
Speaking at the Financial Services Council 2019 Summit, Senator Roberts announced that One Nation will vote to disallow the ‘2019 Code of Banking Practice’, introduced by the Morrison Government in July.
This move would ensure that the Banking Code of Practice is not watered down further, but One Nation has gone further and called for stronger terms to be included in any future banking code.
One notable example of how the 2019 Code weakens scrutiny of the banks is the removal of the requirement for banks to be ‘honest’ and instead uses the word ‘compassionate’.
I’m sure we could all agree that demanding that banks act honestly should be a minimum requirement.
Since re-entering the Senate in 2016, One Nation has fought tirelessly for major reforms and greater accountably of the banking sector.
From spearheading the Senate Inquiry into Rural Banking, the major precursor to the Banking Royal Commission, to now One Nation has never let up in its struggle to hold the banks to account for their poor treatment of many Australians.
One Nation will be seeking the support of all other parties to ensure that the current weak regulations are scrapped, and then replaced with significantly stronger regulations.
A detailed media release about how One Nation will continue to hold the banking industry account has been released by Senator Roberts and is available to read on his social media.
On a lighter note, Senator Roberts was also named the 45th most influential Climate Change Politician by Nature magazine!
While it is likely that the authors at Nature Magazine did not intend this as a compliment the list is chock-a-block with so many of the world’s leading opponents of the Climate Change Con that it really must be considered a great honour.
I have a feeling a framed copy of that edition of Nature Magazine will be heading straight to Senator Roberts’ pool room.
And who knows, with all the hard work he has been up too since his re-election, next year he might crack the top ten.