School banking programs to be banned in Canberra from July,

School banking programs to be banned in Canberra from July, after unanimous support from ACT politicians


School banking programs to be banned in Canberra from July, after unanimous support from ACT politicians
WedWednesday 10
updated
ThuThursday 11
FebFebruary 2021 at 4:32am
The Commonwealth Bank has run programs in schools since 1931, and dominates the school banking market.
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School banking programs, like Commonwealth Bank's Dollarmites program, will be banned from ACT schools from July, after a motion was unanimously passed in the Legislative Assembly yesterday afternoon.
Key points:
Banking programs will be banned from schools after the regulator found they were little more than marketing exercises by the institutions
Members of the ACT Legislative Assembly voted unanimously in support of the ban, which will come into effect mid-year

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