Billson calls for crackdown on banks denying "basic banking

Source: AAP/Tracey Nearmy
Small business ombudsman Bruce Billson is calling on the federal government to require financial institutions to explain why they withdraw or deny insurance and banking services to small businesses.
In a submission to an inquiry into the prudential regulation of investment in Australia’s export industries, Billson said many small businesses are “unable to obtain insurance or banking services based on industry, location and other factors”.
The inquiry was established on February 17 to examine opportunities for the nation’s export industries, and how changing practices across banking, insurance and superannuation institutions are challenging businesses.
Speaking to

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