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Banks are enabling economic abuse. Here’s how they could be stopping it

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Family violence Banks and banking Financial services industry Misconduct in the banking superannuation and financial services industry Financial abuse Royal Commissions Australia
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Banks are enabling economic abuse. Here’s how they could be stopping it
Description

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry delivers its final report today.

During its hearings there was an important problem that it has missed.

Banks and financial service providers are failing to adequately recognise the warning signs of economic abuse and family violence experienced by customers.

Family violence is a problem for the banks and their customers. It is a risk to them if it means loans can’t be repaid. It is a risk to their customers if they are made homeless and lose income and mental health in the financial fallout of abuse.

And it’s a problem for our community if banks and other institutions ignore or enable family violence.

Read the full article on The Conversation.

Publication Details
Copyright:
The Conversation Media Group 2019
License type:
CC BY-ND
Access Rights Type:
open
Post date:
2 Feb 2019

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