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‘Institutionalised elder abuse’: Banks slammed for ‘really savage’ closures

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Article image for ‘Institutionalised elder abuse’: Banks slammed for ‘really savage’ closures

Almost 300 Australian bank branches have closed, or been earmarked to close, since the beginning of 2020.

In many cases, branches which closed temporarily during the pandemic will never reopen.

National Secretary of the Finance Sector Union of Australia, Julia Angrisano, has labelled the closures “really savage cuts”, and taken aim at banks.

“When bank closures occur it has this lasting and long-term ramification for the community and indeed the other businesses in town often suffer,” she told Stephen Quartermain and Emily Power, filling in for Ross and Russel.

“We believe banks have a social responsibility and an obligation back to the community.”

Ms Angrisano says people with disabilities and limited digital literacy are suffering as a result of the cuts.

“That’s had a really big impact on older Australians in particular,” she said.

“The Australian public need to be able to access face-to-face banks where they live.”

Press PLAY below for more from Ms Angrisano.

Chief advocate at National Seniors, Ian Henchske, says the closure of bank branches is a form of abuse against the elderly.

“There is a social obligation not to have a form of instutionalised elder abuse where you basically shut the banks down, particularly in rural areas where we hear of people having to drive to the next town,” he told Tony Jones, filling in for Neil Mitchell.

Press PLAY below for more from Mr Henchske.

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