Bank bashing hurts economy

Original article by Richard Gluyas
The Australian – Page: 15 & 19 : 24-Jan-20

Former ANZ Bank CEO John McFarlane will succeed Lindsay Maxsted as Westpac’s chairman on 2 April. McFarlane has warned that continued criticism of the banking sector and policies such as the bank levy will affect the industry’s returns and ultimately impact on the economy via lower government revenue. His appointment follows Westpac’s alleged large-scale breach of anti-money laundering laws, which led to the departure of Maxsted and CEO Brian Hartzer.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE

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