CLARE O’NEIL MP
SHADOW MINISTER FOR FINANCIAL SERVICES
SHADOW MINISTER FOR JUSTICE
MEMBER FOR HOTHAM

MADELEINE KING MP
SHADOW MINISTER FOR CONSUMER AFFAIRS
SHADOW MINISTER ASSISTING FOR RESOURCES
SHADOW MINISTER ASSISTING FOR SMALL BUSINESS
FEDERAL MEMBER FOR BRAND

Revelation after revelation about bad behaviours and unethical practices at the banking royal commission has finally moved the banking sector to put in place basic customer protections in its new Banking Code of Practice.

Labor welcomes the Code as a step in the right direction, with the message getting through to the banks that the community demands and deserves better conduct from the financial institutions they put their trust in.

We must not forget that it took a royal commission to bring the Australian Banking Association to adopt this new Code of Practice.

And we must not forget that this Liberal Government fought for more than 600 days against Labor’s calls for the royal commission which is leading to much needed changes in how banks treat their customers.