P&N Bank CEO Andrew Hadley has welcomed a commitment from the Labor Party to review legislation and regulations affecting customer owned mutuals and cooperatives in Australia.
“We’ve been pleased to support industry efforts led by the Customer Owned Banking Association (COBA) to drive greater political recognition of our sector,” said CEO Andrew Hadley.
“This followed on from a report by the Senate Economics Committee earlier this year, which made 17 recommendations for reform to policy, legislation and regulatory settings that in some instances is curtailing the ability of the sector to best serve its members.
“P&N Bank is resolute in its support of the customer owned banking model and it is important that the sector wins greater influence among policy makers so we can continue to expand our capacity to better serve those who bank with us, our members.
“We welcome COBA’s interaction with all major parties as well as independent members and senators on this issue.”
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