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Wednesday, 14 November 1973
Page: 3283

Mr ASHLEY-BROWN (MITCHELL, NEW SOUTH WALES) - Has the Treasurer seen reports in today's newspapers concerning the new credit card which will be introduced by the major trading banks, together with 2 State banks, next year? In view of the Government's concern for personal privacy and the confidentiality of personal records, will he ensure that no credit information about bank customers is exchanged by the banks without the customer's permission? Will he also ensure that customers are not coerced into granting such permission by the threat of refusal of credit card facilities? Is he also aware that the main propaganda point brought by the private banks against the Chifley Government's bank nationalisation proposals was the possibility of loss of confidentiality concerning the customer's affairs and that the private banks, together with the Commonwealth Banking Corporation and the 2 State banks involved, are now proposing to abolish this confidentiality on their own initiative?

Further, is he concerned-

Mr SPEAKER - Order! Will the honourable gentleman ask his question?

Mr ASHLEY-BROWN - Is the Minister concerned about the implication of such a common scheme in reducing competition between banks?

Mr CREAN - I must again confess to having seen only the report in the Press this morning. I shall have to give the same answer to this question as I gave to the last question.

Mr Whittorn - He is not answering questions today.

Mr CREAN - I will not answer questions founded on newspaper reports only, when I have not seen the details of the matter referred to in those reports. I shall consider the details properly as I think I should. I will treat the question as being on notice.

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