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Government bangs ‘really unfair’ monetary establishment cost


Commonwealth Bank made a $9.5bn after-tax profit this year, and news of new ATM withdrawal fees this week has not gone down well. Picture: NewsWire / John Appleyard
Commonwealth Bank made a $9.5 bn after-tax earnings this yr, and data of brand-new atm machine withdrawal prices in the present day has really not decreased properly. Picture: Wire Service/ John Appleyard

A vital federal authorities frontbencher has really taken a swipe at Commonwealth Bank over its option to punch numerous customers with $3 cash withdrawal prices.

Australia’s largest monetary establishment revealed the out of favor go on Monday to response from customers and all fields.

On Wednesday, Housing and Homelessness Minister Clare O’Neil claimed the modification was unfair or immediate.

“I just think the government feels this is really unfair to customers, to Australians, especially just before Christmas,” she knowledgeable Sunrise.

“Everyone’s had a bit of a tough year on the cost-of-living front and last thing they need is a kick in the guts from the Commonwealth Bank right before Christmas.”

QUESTION TIME
Clare O’Neil states CommBank must reevaluate the modifications. Picture: Wire Service/ Martin Ollman

Ms O’Neil claimed it “doesn’t seem fair or appropriate” supplied the monetary establishment has really revealed “huge profits” all through a length when most Australians are having a tough time.

“Come on, guys. It’s Christmas. We don’t need this right now,” she claimed.

“This is not something the bank should be doing and we’re asking them to reconsider.”

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