Cleaning out financial corruption in Australia begins with breaking the banking monopoly of the Big Four banks by creating an Australia Post ‘people’s bank’. Such a public bank would break the stranglehold the Big Four banks have over Australia, which they use to keep regulators like ASIC weak and ineffective.

Presented here is the case of Sterling First, a scam which targeted elderly victims by promising them that they would have their rent paid for the rest of their lives in exchange for a fixed amount. They were told their money was being put into a trust that would pay the rent. In fact, they were duped into putting their life savings into a convoluted managed investment scheme. When Sterling collapsed in 2019, 140 elderly victims lost everything, and many now face eviction from their homes.

Sign the Citizens Party Petition to create an Australia Post Bank!: https://info.citizensparty.org.au/auspost-bank-petition

Download the Commonwealth Postal Savings Bank Resolution and mobilise local councils and other institutions!: https://citizensparty.org.au/sites/default/files/2021-06/Unite-Australia-in-support-of-the-Commonwealth-Postal-Savings-Bank.pdf