More than half of Aussie men report experiencing sexual difficulties

Many men were concerned about climaxing too quickly or lacking interest in sex.Krista MangulsoneOne in two Australian men aged 18 to 55 have experienced sexual difficulty in the past 12 months, accord...

Jennifer Power, Senior Research Fellow at the Australian Research Centre in Sex, Health and Society, La Trobe University - avatar Jennifer Power, Senior Research Fellow at the Australian Research Centre in Sex, Health and Society, La Trobe University

Sanders, Harris, Biden... can anyone beat Donald Trump to become the next US president?

No sooner had the US midterm elections for Congress concluded than jockeying began for the presidential elections in 2020. Barring either impeachment, which seems unlikely, or a health crisis, Donald ...

Dennis Altman, Professorial Fellow in Human Security, La Trobe University - avatar Dennis Altman, Professorial Fellow in Human Security, La Trobe University

As many Muslims return to mosques today, they will need ongoing support

A worshipper lights candles at a makeshift memorial at the Al Noor mosque in Christchurch.AAP/Mick Tsikas, CC BY-SAToday, many Muslims in New Zealand will be returning for Friday prayers. Some might f...

Fatima Junaid, Lecturer, Massey University - avatar Fatima Junaid, Lecturer, Massey University

'It's real to them, so adults should listen': what children want you to know to help them feel safe

Children and young people told us they were often overwhelmed by the risks that surrounded them.from shutterstock.comIn recent months, we have been confronted by events that make the world seem unsafe...

Tim Moore, Associate Professor and  Deputy Director, Australian Centre for Child Protection, University of South Australia - avatar Tim Moore, Associate Professor and Deputy Director, Australian Centre for Child Protection, University of South Australia

A brief history of science writing shows the rise of the female voice

Women played a role as both readers and authors in the history of science writing.Shutterstock/Africa StudioThree centuries ago, when modern science was in its infancy, the gender disparity in educati...

Robyn Arianrhod, Adjunct Associate , School of Mathematical Sciences, Monash University - avatar Robyn Arianrhod, Adjunct Associate , School of Mathematical Sciences, Monash University

Cannibalism helps fire ants invade new territory

Fire ant stings can be deadly to people who have an allergic reaction to their venom.Forest and Kim Starr/Flickr, CC BY-SATropical fire ants (Solenopsis geminata), originally from central and South Am...

Pauline Lenancker, PhD student in biology and ecology, James Cook University - avatar Pauline Lenancker, PhD student in biology and ecology, James Cook University

We've let wage exploitation become the default experience of migrant workers

Australia’s Fairwork Commission has so far this year examined more than a dozen cases of wage theft. Those cases involve hundred of workers and millions of dollars in underpayments.And it’...

Joo-Cheong Tham, Professor, Melbourne Law School, University of Melbourne - avatar Joo-Cheong Tham, Professor, Melbourne Law School, University of Melbourne

Jobs but not enough work. How power keeps workers anxious and wages low

The unemployment rate is 4.9%, but the underemployment rate is 8.1%ShutterstockThis is the third in a three-part mini-symposium on Wages, Unemployment and Underemployment presented by The Conversation...

Barbara Pocock, Emeritus Professor University of South Australia, University of South Australia - avatar Barbara Pocock, Emeritus Professor University of South Australia, University of South Australia

What Parkland's experience tells us about the limits of a 'security' response to Christchurch

In the days before the mass shootings in Christchurch I was visiting Parkland, Florida, where 17 people were killed in a school shooting on Valentine’s Day 2018. I was recording a story about ho...

Amanda Tattersall, Postdoc in urban geography and Research Lead at Sydney Policy Lab. Host of ChangeMakers Podcast., University of Sydney - avatar Amanda Tattersall, Postdoc in urban geography and Research Lead at Sydney Policy Lab. Host of ChangeMakers Podcast., University of Sydney

Friday essay: images of mourning and the power of acknowledging grief

These images of Cherine Fahd's grandfather's funeral were tucked away in a brown paper envelope for decades. As a society, we too often keep grief hidden from view. Author providedBefore her death in...

Cherine Fahd, Director Photography, School of Design, University of Technology Sydney - avatar Cherine Fahd, Director Photography, School of Design, University of Technology Sydney

Local Māori urge government to address long-running dispute over rare cultural heritage landscape

Supporters of the campaign to stop commercial development at Ihumaatao.Qiane Matata-Sipu , CC BY-SAAn escalating crisis at Ihumaatao, near Auckland’s airport, is challenging the commercial devel...

Tim McCreanor, Professor Race Relations, Health and Wellbeing, Massey University - avatar Tim McCreanor, Professor Race Relations, Health and Wellbeing, Massey University

Grattan on Friday: Shorten's not getting ahead of himself, but the tape measure is out

With the election likely to be called in about a fortnight – the weekend after the April 2 budget - behind the scenes Labor is “measuring the curtains” of government.Any sign of hubr...

Michelle Grattan, Professorial Fellow, University of Canberra - avatar Michelle Grattan, Professorial Fellow, University of Canberra

Will the New Zealand gun law changes prevent future mass shootings?

New Zealand Prime Minister Jacinda Ardern has announced a ban on certain military-style weapons.AAP/David AlexanderAs she foreshadowed in the aftermath of the Christchurch massacre last Friday, New Ze...

Rick Sarre, Professor of Law and Criminal Justice, University of South Australia - avatar Rick Sarre, Professor of Law and Criminal Justice, University of South Australia

NSW election: where do the parties stand on brumby culling?

Feral horses have severely damaged the landscape in Kosciuszko National Park.Travelstine, CC BY-SAThe future management of New South Wales’s national parks is one of the issues on the line in Sa...

Don Driscoll, Professor in Terrestrial Ecology, Deakin University - avatar Don Driscoll, Professor in Terrestrial Ecology, Deakin University

Confused about aged care in the home? These 10 charts explain how it works

Home care providers' profits are growing but many older Australians are missing out on quality care.The Conversation / ShutterstockThis week, the Royal Commission into Aged Care Quality and Safety hea...

Fron Jackson-Webb, Deputy Editor/Senior Health + Medicine Editor - avatar Fron Jackson-Webb, Deputy Editor/Senior Health + Medicine Editor

Jobs but not enough work. How power keeps workers anxious and wages low

The unemployment rate is 4.9%, but the underemployment rate is 8.1%ShutterstockThis is the third in a three-part mini-symposium on Wages, Unemployment and Underemployment presented by The Conversation...

The Conversation - avatar The Conversation

We've let wage exploitation become the default experience of migrant workers

Australia’s Fairwork Commission has so far this year examined more than a dozen cases of wage theft. Those cases involve hundred of workers and millions of dollars in underpayments.And it’...

The Conversation - avatar The Conversation

A new procedure may preserve fertility in kids with cancer after chemo or radiation

A 12-week-old baby female macaque, named Grady, was born from frozen testicular tissue. Oregon Health and Science University, CC BY-SACancer in children was often a death sentence in decades past, but...

Kyle Orwig, Professor of OB/GYN and Reproductive Sciences, University of Pittsburgh - avatar Kyle Orwig, Professor of OB/GYN and Reproductive Sciences, University of Pittsburgh

March Madness: With gambling legal in eight states, who really wins?

The odds of more legal betting are good. AP Photo/John LocherMarch means springtime, but also breathless headlines of Cinderellas, busted brackets and buzzer beaters. This year, it’ll also inclu...

John Affleck, Knight Chair in Sports Journalism and Society, Pennsylvania State University - avatar John Affleck, Knight Chair in Sports Journalism and Society, Pennsylvania State University

Will more genetically engineered foods be approved under the FDA's new leadership?

Will food laws change as more GM foods are created?Zerbor/Shutterstock.comThe world of food and drug regulation was rocked earlier this month by the news of a change in leadership at the Food and Drug...

Ana Santos Rutschman, Assistant Professor of Law, Saint Louis University - avatar Ana Santos Rutschman, Assistant Professor of Law, Saint Louis University

We need more teachers of color, so why do we use tests that keep them out of the classroom?

Teacher license exams often fail to predict which teachers will be the best, research shows.michaeljung from shutterstock.comStudents of color seldom see teachers who look like them. This is because m...

Emery Petchauer, Associate Professor, Michigan State University - avatar Emery Petchauer, Associate Professor, Michigan State University

Niger has the world's highest birth rate – and that may be a recipe for unrest

While fertility levels have declined rapidly in most parts of the world, many countries in the sub-Saharan African region of the Sahel have seen their reproductive rates go down very slowly, and only ...

John F. May, Adjunct Professor, Georgetown University School of Nursing and Health Studies, Georgetown University - avatar John F. May, Adjunct Professor, Georgetown University School of Nursing and Health Studies, Georgetown University

Nuns were secluded to avoid scandals in early Christian monastic communities

Margareta, head of the women's community at Lippoldsberg (in modern-day Germany) clasps hands with an Augustinian monk as he hands her a book.Lippoldsberg Evangeliary. Kassel, Landesbibliothek, MS the...

Alison I. Beach, Associate Professor of History, The Ohio State University - avatar Alison I. Beach, Associate Professor of History, The Ohio State University

It’s been an enormous year for the financial services industry.

First there was a Productivity Commission report calling for major changes to superannuation, then a Senate inquiry into financial services targeted at Australians at risk of hardship, and now the final report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

And it’s only February.

Yet all three investigations either missed something big or failed to take it sufficiently seriously.

It’s the plight of Australians in remote Indigenous communities.

As if to inoculate himself against such criticism, Commissioner Kenneth Hayne made it clear in his preface that it would have been impossible to hear every case and that inevitably there would be disappointment.

As a consequence, the (relatively privileged) voices that were heard didn’t properly reflect the hardships, vulnerabilities and lives of those far away from the centres of finance, yet increasingly dependent on them as their lives become ever more financialised.

Automatic teller machines

Take the simplest example: ATM fees.

There is not always an understanding within remote Indigenous communities – whether because of language or financial literacy skills - that ATMs attract a A$2.50 fee every time they are used, including to check balances. This often isn’t the case in cities where ATMS are operated by banks.

But in remote locations with only one or two ATMs, they are usually third-party operations, run for profit. It is not uncommon for people waiting for funds to appear in their accounts to check multiple times, draining the account until they find something there.

The only government access point and only phone and only internet service in Urapunga, Northern Territory. J. Louth

While the main report makes generic reference to ATM fees, it is only in the appendices where the question is touched upon.

The Bankers Association is well aware of it.

It conducted a limited two-year trial of free ATMs that concluded at the end of 2017, and was then extended.

It raises a telling question: if there was a recognisable problem and a recognisable solution, why extend the limited trial instead of making it universal?

It is a question about which the Royal Commission was silent.

Superanuation

And then there is super. The Productivity Commission’s earlier 722-page report on super (widely cited in the royal commission report) only twice makes explicit reference to issues faced by Aboriginal people.

This for a product where preservation age for a male is 60 years, yet the average life expectancy for an Indigenous male in the Northern Territory is 63.6.

While it raised the idea of a lower preservation age or releasing superannuation early for medical and associated expenses, the idea was relegated to the appendices.

Yet superannuation is a vital lifeline in remote communities. One Elder in the Northern Territory community of Wadeye made it clear to me that she uses access to super to get their children out of “town”, onto their country and away from social problems.

While the Productivity Commission does note the need to universalise access to hardship payments, it does not acknowledge that the capped amount of A$10,000 is taxed at up to 22%.

Portion control

To Commissioner Hayne’s credit, he urges consultation with Aboriginal and Torres Strait Islanders about making death benefit nominations reflect kinship ties.

It’s an excellent idea – one that would have carried more weight had he made it a formal recommendation.

His recommendations 4.1 and 4.2 are are as bold as they come, calling for a ban on the hawking of insurance policies and for funeral expense policies to be subject to the same rules as insurance policies.

Final Report, Royal Commission into the Misconduct in the Banking, Superannuation and Financial Services Industry, Vol. 1.

There’s nothing wrong with these recommendations, but they only deal with a small portion of the range of financial abuses that take place in remote communities or when community members visit larger towns and cities.

They include payday lenders offering multiple loans, telephone companies who sell phones they know have no coverage in remote communities, high-interest credit and motor vehicle insurance contracts, charity collectors who sign up community members for monthly donations (taking advantage of cultural notions of reciprocity), expensive furniture and appliance rentals, rent-to-buy schemes and, now, pay later schemes.

Indeed, while I was conducting an interview with an Elder in Wurrumiyanga in the Tiwi Islands, the Elder asked about the text message he received while we were speaking. It was from a payday lender offering immediate access to funds.

Read more: Banking Royal Commission: no commissions, no exemptions, no fees without permission. Hayne gets the government to do a U-turn

The Senate inquiry is examining some of these exploitative and predatory practices, but the royal commission’s terms of reference appeared to exclude consideration of them.

In the Northern Territory, where 25% of the population identifies as Aboriginal or Torres Strait Islander, they are not so easily excluded.

My research in the NT suggests that financialisation reinforces the systemic disadvantage introduced by white settlement and transmits it across generations.

Any effort to improve financial well-being in remote communities has to take into account the ways in which an imposed economic system has torn at the heart of the one it replaced.

Many of us seem unwilling to accept that an economic world existed prior to European settlement, that (international) trade routes and agriculture were sustained for millennia.

Working through this isn’t simple. It requires spending time with and listening to remote Indigenous communities. Yet as one Elder out past Timber Creek put it:

Government don’t ask, they just tell us. They don’t like to talk to Aboriginal people about what needs to happen, what needs to be done.

This brings us to recommendation 1.8:

Final Report, Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, Vol. 1.

The need to “identify a suitable way for those customers to access and undertake their banking” is vague, but important.

It ought to mean that the financial sector works with communities to develop its cultural competencies. It ought to mean exploring community and cultural literacies and embracing community knowledge.

It ought to mean having financial counsellors – who are Indigenous – trained in and able spending time on communities.

It will need commitment and ongoing funding from both industry and government.

But it’s more of a thought bubble than a worked-through proposal. At best, it’s a start.

The Conversation

Authors: The Conversation

Read more http://theconversation.com/banking-royal-commission-how-hayne-failed-remote-australia-111100