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“Required payments will continue to rise a little further in the period ahead as fixed-rate loans taken out during the pandemic reach the end of their fixed-rate period. The share of such loans has already fallen substantially, from close to 40 per cent in early 2022 to about 20 per cent today.”

“It sounds like a payments service to me.”
Senator Andrew Bragg Bragg questioning Apple during their appearance before the Senate Inquiry into the Influence of International Digital Platforms” 

“The reality of climate change presents itself in conditions which are more extreme, more unpredictable and more frequent. And the clear consensus is that Australia is facing a fire season every bit as dangerous as that which inflicted the Black Summer of three years ago.”

“Once online, many customers have found the accessibility and the 24/7 availability of digital banking simple and easy and they haven’t turned back. These digital shifts have contributed to a dramatic reduction in the use of bank branches and a rapid increase in digital transactions. 99 per cent of bank interactions take place digitally and customers report the highest levels of satisfaction using this channel.”

“Using a credit card for gambling can lead very quickly to a very serious debt trap for consumers and this debt cycle can be extremely difficult to break.
Online gambling is a fast-growing form of gambling so it’s imperative that this loophole is finally closed. The Federal Government is to be strongly congratulated for acting on this important issue.”

“Unfortunately, the recent productivity record isn’t encouraging…..the problem is not a lack of ideas. Instead, it is in building the consensus within society to implement some of these ideas. This is, fundamentally, a political problem, and it is a major problem. If we can’t build a consensus for changes, the economy will drift and there is a material risk that our living standards will stagnate.”

“if you can prevent the scam…from jumping in the getaway vehicle and getting out of the country, no matter whether you’re the biggest business in Australia or the smallest, that is the absolute best protection that you can put in place…if scams just keep increasing and coming to people in ever increasing amounts, then it’ll be a losing battle.”

“Consumers are marching with their feet – or rather, not marching – but “tap and go”-ing. A Reserve Bank report found only 13 per cent of transactions in 2022 were made in cash, with older Australians abandoning notes and coins at the fastest rate.” 

“More needs to be done to ensure cryptocurrency is not used as the getaway vehicle for scam money stolen from Australians.”

“As customers increasingly shop, pay, or are paid digitally, they expect their banking and payment services to be available digitally in a format that is convenient, cost-effective, stable and secure. Banks have reshaped their networks to reflect changing customer use, and expectations.”

“Every time I hear these stories it breaks my heart, and it strengthens my resolve to want to lift the standard and improve protections right across the economy for Australians who are affected by this, $3 billion in the last year. It’s a crisis and more needs to be done, a Team Australia effort having business, having telecommunications companies, banks, social media platforms and government working together. don’t anticipate that there will be an election this year. But quite clearly we have a mandate for [the Housing Australia Future Fund bills]. We want this to be passed. The way to ensure that this doesn’t provide a [double dissolution] trigger is to pass the legislation.”

“I don’t anticipate that there will be an election this year. But quite clearly we have a mandate for [the Housing Australia Future Fund bills]. We want this to be passed. The way to ensure that this doesn’t provide a [double dissolution] trigger is to pass the legislation.”