The Northern Territory news Mon 4 Feb 2019
NT news
The Northern Territory news; NewspaperNT
2019-02-04
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English
Community newspapers -- Northern Territory -- Darwin; Australian newspapers -- Northern Territory -- Darwin
News Corp Australia
Darwin
application/pdf
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News Corp Australia
https://www.legislation.gov.au/Details/C2019C00042
https://hdl.handle.net/10070/307546
https://hdl.handle.net/10070/343147
V1 - NTNE01Z01MA and 2014, with a combined debt of about $1 million. His mother, Jennifer, 67, had no idea her husband had taken on this amount of debt. Im furious the banks lent my dad this amount of money when he had absolutely no way of paying this back, Mr Low said. Its impacted our lives severely, shes had severe depression, they dont understand the mindset you are in, to lose someone and then lose your house the bank just didnt care. Sheer greed, lucrative incentives and the outright robbery of innocent Australians was unveiled in months of compelling evidence in the commission hearings. Visit your local store for the latest picks of the season. Products may not be available in all stores, Woolworths Metro, Woolworths Online or at Caltex Woolworths co-branded fuel outlets. As summer continues were seeing superb quality produce across Australian growing regions. Head of Produce, Woolworths. Paul Turner Monday 4th February Shepard avocados are now in season. Theres a plentiful supply and they're excellent quality due to good growing conditions in Queensland. Expect to see strong volumes right through until April. Shepard avocados New and exclusive to Woolworths, beautiful Macro organic Sweet Solanato tomatoes are at their peak over summer. Theyre ripened on the vine so theyre extra sweet. Macro organic Sweet Solanato tomatoes Nows a great time for Australian black seedless grapes. The season is moving from Queensland to the Sunraysia growing region, so were seeing good volumes of quality fruit. Black seedless grapes WP030219NT1A MONDAY FEBRUARY 4 2019 NEWS 09 Banks face their D-Day A SHATTERED Rien Low is still at a loss how lender Suncorp mistakenly sent his mother a letter in December addressed to her deceased husband about a property the bank had sold on her. This was just a few months after the 40-year-old gave evidence at the financial services Royal Commission revealing the distress his family endured after Suncorp hassled his mother for debts shortly after his father died in a workplace accident in 2015. Mr Low hopes todays release of Kenneth Haynes final report into the financial services industry will finally make the banks accountable for what they have done to people. Its easy for them to sit behind their computers or for people to demand this or demand that but it has massive repercussions and effects on people, we are actually human, Mr Low said. After the sudden death of his father, Mr Low discovered his dad had secured five separate loans with Suncorp in 2013 The banking, superannuation, insurance, mortgage broking and financial advice industries were put in the spotlight and told to please explain their often incomprehensible behaviour. It left many people both in and out of the industry in complete shock. There were 68 days of hearings, 134 witnesses, 400 witness statements and 6500 documents. Some of the worst cases included charging dead people, billing customers fees without providing any service. Key recommendations expected to be rolled out today include an end to ridiculous bank bonuses, the revamp of sales commissions and targets and a move to give regulators new funding and powers. There should also be a decision to end the banks vertical integration where they both make and sell mortgages and financial advice services. The Australian Banking Associations chief executive officer, Anna Bligh, conceded that banks know they have failed their customers. SOPHIE ELSWORTH It has massive repercussions and effects on people R I E N L O W