Banks are closing branches all over Australia and have been for decades.  When banks close their branches in regional areas, the impact on individuals and communities can be devastating and far-reaching, especially when it is the last bank in town.

This report examines bank closures in regional Australia across five chapters:

• Chapter 1: Introduces the inquiry, including its conduct and structure, background on bank closures in regional areas and branch presence, the committee's letter to the banks, and a summary of relevant previous inquiries.
• Chapter 2: Establishes the importance of cash and financial services in regional areas, including issues with digital banking, barriers to access in remote and Indigenous communities, and outlines the impacts of branch closures on individuals, communities and businesses.
• Chapter 3: Examines branch closures - why and how are branches being closed; what are the rules and processes, and what are the impacts.
• Chapter 4: Outlines possible solutions to the regional banking crisis, including remote service options, a public bank or PostBank, expanding Bank@Post, and options for stronger regulation.
• Chapter 5: Protecting the future of regional banking — establishes the need for reform and provides the Committee's conclusions and recommendations.

Key recommendations:

• The Committee recommends that the Australian government adopt a policy recognising access to financial services as an essential service. To this end, it should commit to guaranteeing reasonable access to cash and financial services for all Australians.
• The Committee recommends that the Australian government commission an expert panel to investigate the feasibility of establishing a publicly-owned bank. In investigating this, the panel should examine options including, but not limited to a stand-alone public bank or one associated with, and using the branch network of Australia Post.
• The Committee recommends that the Australian government commission the Australian Competition and Consumer Commission to explore the barriers to customers switching banks, with a view to allowing those that open and/or maintain branches in regional, rural and remote towns to attract more business.