MOVE Bank has recently added our endorsement to a new campaign called #MoreThan4, which calls for a proportionate approach to banking regulation.
The campaign launched by the Customer Owned Banking Association seeks to move Australia’s banking regulatory regime from a one size fits all approach to a proportionate regulatory regime.
“The high regulatory costs on customer-owned institutions such as ours mean our banking market isn’t as competitive as it should be,” said MOVE Bank CEO, Therese Turner
“We believe that a proportionate regulatory regime would allow us to grow and deliver even more value for our members, and we strongly support a new approach which recognises there are #MoreThan4 banking institutions.”
To show our support for a more proportionate regulatory regime, MOVE Bank met with Senator Bridget McKenzie in Canberra last week to discuss how this regime would deliver a more competitive banking market.
“We encourage our members to support the #MoreThan4 campaign, so we can create a regulatory regime that leads to more competition, choice and better outcomes for Australians,” said Therese.