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Wednesday, 24 February 1971


Senator WOOD (QUEENSLAND) - Does the Minister representing the Treasurer know that certain banks which have granted overdrafts to their customers are now using forceful and threatening measures to have such overdrafts reduced within a very short time? Does the Minister not consider that such drastic actions are likely to create panic in the business and rural community and are not in accordance with what should be expected from a banking system which has a monopoly in this country?

Senator Sir KENNETHANDERSONI shall refer the honourable senator's question to the Treasurer. I would think that the relationship between a client and a bank in relation to that client's overdraft would be something which is singularly between the bank and the client. The honourable senator's question rather implies that there is an all over pattern of this type of action going on. To that extent I shall refer the question to the Treasurer and obtain a response.







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