Australia’s big banks are out of control.

We’ve witnessed scandal after scandal from the most profitable banking sector in the world, but the latest -- a flat-out refusal to pass on the Reserve Bank interest rate cut to mortgage holders -- proves that our banks are shameless when it comes to maximizing profit off the backs of ordinary Australians.

All of this -- insurance fraud, rate fixing, and financial planning scams -- comes as a result of complete deregulation of the financial market and our government is powerless to stop it. The Big Four are ‘continuing to wage a war with government over sovereignty of the nation’, says one economics prof. ‘And they are winning.’

Tell PM Malcolm Turnbull it’s time to reign in the big banks. Call a Royal Commission into the banking sector.

The Reserve Bank interest cut was meant to stop inflation and make it easier to borrow money—but the banks are simply taking the whole cut themselves. It’s said they’ll pocket nearly $1 billion from the scam. It’s an astonishing show of defiance and audacity from an entire industry already mired in scandal, fraud and greed.

Australians are furious, and they have a right to be. But outrage won’t change anything. We're demanding an enquiry and a full banking Royal Commission that will propose the solutions we direly need.

Opposition in Parliament is on the verge of being able to force a commission with or without government support -- we need only convince two Conservative MPs that the big banks’ greed is out of control. If enough of us raise our voices, we can finally hold our banks accountable for what they’ve done.

PM Turnbull: Demand a Banking Royal Commission now.

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