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Morrison adopts majority of Greens 2016 banking policy

Peter Whish-Wilson 20 Apr 2018
Treasury

Greens Treasury spokesperson Senator Peter Whish-Wilson welcomes the Government’s adoption of Greens policy positions on stronger white collar crime penalties after years of campaigning and Senate work.

Senator Whish-Wilson said, “Like the Royal Commission, investigating new white collar crime penalties was a recommendation of the 2013-14 Senate Inquiry into ASIC.

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Pressure of impending Bank Royal Commission continues to reap dividends for public

Peter Whish-Wilson 24 Sep 2017
Consumer Affairs
Treasury

Greens Treasury spokesperson, Senator Peter Whish-Wilson, welcomes the move by Commbank to scrap ‘foreign ATM fees’ and calls upon other banks to immediately follow.

Senator Whish-Wilson said, “There is no way that Commbank ever would have made this move without the public pressure on them over multiple scandals and the threat of an impending Royal Commission or Parliamentary Commission of Inquiry.

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Solution to Four Corners housing exposé is to regulate propety investments as a financial product

Peter Whish-Wilson 22 Aug 2017
Treasury

Greens Treasury spokesperson, Senator Peter Whish-Wilson, has reiterated calls for investment property to be treated as a financial product in the wake of the 4 Corners report on the state of the housing market in Australia.

Senator Whish-Wilson said, “Australia’s housing market is a debt-fuelled bubble driven primarily by tax breaks to investors. This is distorting the entire economy, creating enormous financial risk, and pushing the price of housing out of the reach of young people.

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Commbank’s $10 billion profit is a siren song on what is wrong with the Australian economy

Peter Whish-Wilson 9 Aug 2017
Treasury

Greens Treasury spokesperson, Senator Peter Whish-Wilson, responded today to the Commonwealth Bank’s record profit announcement.

“The announcement of a $10 billion profit by Commonwealth Bank is emblematic of what is wrong with the Australian economy.

“Despite having a record of bad behaviour as long as your arm, CBA is making record profits and paying their executives millions and millions while ordinary Australians watch their wages freeze and the cost of housing spiral out of control.

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The big bucks should stop with Ian Narev and his executives, who could still get a fat $10 million package

Peter Whish-Wilson 8 Aug 2017
Treasury

Greens Treasury spokesperson, Senator Peter Whish-Wilson, has labelled the decision by the Commbank board to cut just the short-term cash bonus of Ian Narev and his colleagues, while leaving the remainder of their bonuses in-tact as simply 'stunning'.

Senator Whish-Wilson said, “The big bucks should stop with the Commonwealth Bank CEO and senior executives. Not one of them should get a single cent in bonuses, whether those bonuses are in shares or in cash, or whether they relate to this year’s performance or the last four years.

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Commbank bonuses were reportedly tied to roll-out of ATMs at centre of alleged money laundering scandal

Peter Whish-Wilson 7 Aug 2017
Treasury

Greens spokesperson for Treasury, Senator Peter Whish-Wilson, is calling on the Board of Commonwealth Bank to consider the position of Ian Narev today, and to cancel all senior executive bonuses in their meeting prior to the release of the annual financial results.

Senator Whish-Wilson said, “If the Board of Commbank wants to start to rebuild trust in their organisation they need to make sure that no senior executive with any oversight of this alleged money laundering scandal gets paid one single cent in bonuses this year.

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