The ability of Aboriginal and Torres Strait Islanders to access mainstream financial services and products has been impeded more than on any other indigenous population in the world, according to the author of a new study into changes in the banking sector.
Michael D'Rosario, a financial economics researcher at the Deakin Business School says the ongoing reduction in the number of bank branches and services in rural areas has left many Aboriginal communities without access to banking facilities that most Australians take for granted.m
Speaking on CAAMA Radio Mr D' Rosario says following the recent Banking Royal Commission…the banks now have an opportunity to acknowledge that although they have been providing viable services to a large segment of Australian society…. there are many that have been forgotten.
Mr D'Rosario says by virtue of not being able to access basic financial services Aboriginal people are truly in a disadvantaged position.
Paul Wiles is talking with Michael D'Rosario.
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