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Wednesday, 27 February 1952

Mr CLYDE CAMERON (HINDMARSH, SOUTH AUSTRALIA) - J ask the Prime Minister whether it is a fact that private banks have decided to increase by 100 pei- cent, their charges for keeping current accounts. Was this decision forced upon the private banks by the Commonwealth Bank? Is it also a fact that the Commonwealth Bank is to discontinue its past practice of not making a charge for the keeping of current accounts, and will charge the same rate as is to be charged by the private banks? What body or person initiated the move to double the present charge by private banks for keeping current accounts and to compel the Commonwealth Bank to discontinue the free service it has previously given in this regard? Does the Government agree with the decision to make the community pay to the banks of this country an additional ,500,000 a year, seeing that those banks are already showing substantial profits? If not, what action does the Government propose to take in regard to this matter?

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