When Simon Mawson and his partner Monique Turmine bought an established adult shop in 2018, they could not get business accounts and payment facilities from the major banks.The former small business ombudsman says banks should not be the 'moral arbiter'"The ANZ, the lady who we were dealing with, actually said: 'You know, it's most likely because of the industry that you're trying to finance'," Mr Mawson said.
But the associations for sex workers, the adult industry and gun shops told the ABC that in practise, their members were routinely discriminated against when applying for financial services. Typically, they said, they were told their business was high risk, but most were refused services without any explanation.Kate Carnell, former Small Business Ombudsman and Liberal ACT chief minister, said the public would be surprised to know how widespread banking discrimination was.
"The banks haven't been great corporate citizens... And I think most Australians would think the last people that we make our moral arbiter would be the banking industry." "They're pushing them into a cash only type economy, which isn't what we want at all. We want everyone paying appropriate tax operating in the legal system."Gala Vanting from the Scarlett Alliance says most sex workers don't lodge complaints against banks for financial discrimination.
The banking industry has been accommodating drug traffickers, gangsters, and terrorists for decades. Some apparently draw the line at dildos and shotguns though. 🤷♂️
Are Canavan and Pitt going to suggest that the Federal Government loans them money?
bitcoin
Those same banks that were charging dead people and selling illegal insurance ?
Credit union banks are usually more relaxed and don’t care about s3x workers using them 😁
Considering banks have done little to evolve since the RC and AFCA is barely present, more needs to be done to ensure banks are acting appropriately. This has implications on economy and tax. Who are the banks to interrupt lawful business?
The leftism in action
The same banks that were assisting with money laundering just a few years ago? Say it ain't so
My mind is going nuts on banks assessing quality assets suitable for repossession 🙈
Can’t see any problems, but understand Banks reluctance