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Ripoll calls on the Bank of Queensland to play fair with Storm hardship cases.



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MEDIA RELEASE

Bernie Ripoll MP

PARLIAMENTARY JOINT COMMITTEE ON CORPORATIONS AND FINANCIAL SERVICES

Monday 29 June 2009

RIPOLL CALLS ON THE BANK OF QUEENSLAND TO PLAY FAIR WITH STORM HARDSHIP CASES

Bernie Ripoll MP, Chair of the Parliamentary Joint Committee on Corporations and Financial Services, has today called upon the Bank of Queensland and their CEO David Liddy to do the right thing and follow the lead of the CBA in relation to their Storm Financial clients.

“It is time the Bank of Queensland came to the table and clarified its role in relation to its dealings with Storm Financial.

“Although the Bank of Queensland have now corrected a previously false statement about being investigated by ASIC, there still remains a number of questions for them to answer.

“The Bank of Queensland must provide certainty and relieve pressure off its own customers in these difficult times.

“Its not good enough for the BOQ to put up its defensive legal barriers without considering the undue stress and hurt they are causing their own clients” Mr Ripoll said.

Mr Ripoll had already called on the Bank of Queensland to come forward and make a genuine offer of assistance to every one of their 319 clients that have suffered as a direct result of the Storm Financial collapse.

“I will be seeking a meeting with Mr Liddy to discuss this matter further and hope that the Bank of Queensland and other banks will assist their clients in a fair and responsible manner in cases of genuine hardship.

-ENDS- WORDS: 223

Media contact: Bernie Ripoll MP (0418 763 351)