The case for re-nationalising the Commonwealth Bank of Australia (CBA) is becoming stronger every day. The latest in a string of scandals to hit "Australia's leading bank" is the revelation the CBA is facing allegations that its Intelligent Deposit Machines (IDMs) were used by money launderers and criminal gangs to process millions of dollars in cash.
Commonwealth Bank of Australia
Stop Adani activists organised simultaneous protests at two branches of the Commonwealth Bank in Perth’s central business district on July 28, to highlight growing opposition to the CBA’s involvement with the Adani coalmine.
Activists rallied outside the bank’s main branch in the Murray Street mall and also occupied the Hay Street branch a block away.
The rally featured a human coal train chugging through the gathering, pulling carriages emblazoned with “STOP funding dirty coal STOP ADANI”. The bank reacted by locking its doors.
The latest Household, Income and Labour Dynamics in Australia Survey: Selected Findings (HILDA) report shows that the proportion of home ownership has declined in all parts of Australia, with the greatest declines in NSW and Victoria.
Thereport, released on July 20, reveals that owning a house is no longer the norm and it is likely that renters will outnumber home-owners in the next few years.
The Turnbull Coalition government must call a full royal commission into CommInsure, the Commonwealth Bank and the general financial malpractices of the insurance and banking industry immediately.
This Coalition government wasted more than $50 million in taxpayers' funds on the royal commission into the union movement, but adamantly refuses to hold a proper inquiry into its big business mates in the major banks.