Border mayor reacts to Senate banking inquiry which has prompted Commonwealth to halt closures in North East and Riverina

The inquiry though has been ridiculed by Greater Hume Council mayor Tony Quinn, who saw NAB shut its Holbrook branch last Thursday the day after the inquiry was flagged.

"I reckon the Senate inquiry is a total joke," Cr Quinn, who successfully lobbied for Hume Bank to come to Holbrook, said.

"Anyone in any position has known this has been going on for the last five years.

"It's a bit like the bushfire has burnt you out and what are you going to do?"

Alpine Shire mayor John Forsyth was very pleased at the Commonwealth Bank's decision to not shut the Bright branch from April 28 as planned.

He wants to see it continue to trade as its Myrtleford counterpart has after coming under threat.

The ANZ branch at Myrtleford is to close in May.

Cr Forsyth said he would like that move to be reversed but fears with account holders having already departed it may be too late.

IN OTHER NEWS:

In a statement, the Commonwealth declared: "Following consideration of a request from the Senate committee, CBA will not close any regional branches while the Inquiry is underway in 2023.

"As an additional sign of good faith, while the Inquiry is underway in 2023, CBA will postpone the closure of two branches already announced."

It confirmed to The Border Mail that referred to Bright and Junee, with the latter the railway hub due to lose its branch next month.

Indi MP Helen Haines said she spoke with a senior figure from the Commonwealth Bank on Monday to express he dismay at the Bright closure plan before the moratorium on the shutdown was announced.

"I am hopeful that through the Senate inquiry process, the big banks will properly consider the way in which they service regional towns," Dr Haines said.

"They must properly consult with communities and consider the impact of potential closures before taking decisions which have a serious impact on communities."

Farrer MP Sussan Ley said it was important to assess the impact of closures.

"I think what we'll find is the need for banks to make it easier to have phone and online inquiries answered quickly, efficiently and more personally," Ms Ley said.

"Most people who contact my office are more concerned with losing local ATM access and this is certainly something I have been pushing them to keep open."

Submissions to the inquiry close on March 31.

It will look at reasons for closures, their economic and welfare impact as well as their effect on cash services, and consider possible solutions.

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