There has been ongoing reporting of individual instances of bank malpractice and occasional reporting of large scale institutionalised malpractice. Reporting of the banking royal commission hearings has quickened the pace. But nobody, including the media, joins the dots: the key financial institutions are structurally given to corrupt practices, writes Evan Jones.
Finance industry workers are facing increasing pressure as banks seek to maximise their already hefty profits. Our jobs are becoming increasingly precarious, and all the while our wages and conditions are being threatened with cuts.
These days, if you walk into a bank, you’ll find very few staff and a lot of ATMs, which not only give cash but do almost everything a teller can do. You will also find a concierge, whose job is to shift customers to self-service via online banking. Tellers have performance targets for shifting customers online.
It seems that every other month we have another parliamentary inquiry into the banks. With so many regular appearances you’d think it would start to get boring.