The Albanese government has rejected a proposal by banks to pause regional branch closures instead of a mooted $350 million levy, as a rift deepens between Commonwealth Bank of Australia chief executive Matt Comyn and other bankers over the plan.
Banks rushed to submit alternative options to Treasury last week to retain branch and cash services in the bush, according to banking sources who spoke on condition of anonymity.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
