Activist bank accused of breaking rules over red-meat boycott

Refusing financial services to organisations using intensive animal farming systems is an alleged rule breach, the nation’s consumer watchdog is being told. (Picture: File)

Animals Australia stands accused of acting “in concert” with Bank Australia to “refuse financial services”to organisations using intensive animal farming systems. Picture: File

A leading red meat industry body has accused Bank Australia and Animals Australia of potentially breaching consumer watchdog rules by refusing financial services to organisations using intensive animal farming systems.

The Red Meat Advisory Council claims Australia’s secondary boycott provisions — which involves at least two people hindering third parties from acquiring goods or services — may have been breached by Animals Australia acting “in concert” with Bank Australia to “refuse financial services”.

In a letter to the Australian Competition and Consumer Commission, seen by The Weekly Times, RMAC independent chair John McKillop requested “alleged contraventions” of the secondary boycott provisions be investigated.

“Bank Australia’s ‘responsible banking policy’ public promoted by Animals Australia states the bank does not provide financial services to “organisations that use intensive animal farming systems … or organisations that export live animals”,” Mr McKillop wrote.

In his letter, Mr McKillop said the alleged “restrictive trade practice” amounted to a secondary boycott of law-abiding Australian red meat and livestock businesses.

Mr McKillop said RMAC became aware of the issue via advertorial content paid for by Bank Australia promoting Animals Australia.

“Further investigation of Bank Australia and Animals Australia exposed a sinister partnership that appeared to target law-abiding Australian red meat and livestock businesses,” Mr McKillop said.

“An investigation is needed to determine whether this partnership included the extremists acting in concert with the bank to restrict financial services to the meat and livestock industry.

“If practices like secondary boycotts are left unaddressed, the financial viability of the nation’s red meat and livestock industry risks being ransomed to extreme activist agendas.”

An ACCC spokesman confirmed a complaint was submitted by RMAC.

“We will assess the issues raised, and respond directly to the council,” the spokesman said.

A Bank Australia spokesman said the bank recognises the “critical role agriculture and farmers play” in food production.

“This is reflected in the many and diverse businesses and individuals we lend to across Australia, including in the agricultural sector and across regional areas,” the spokesman said.

“Our decision not to lend to businesses that employ intensive animal farming systems is based on a significant amount of research and engagement with stakeholders across the sector including animal welfare advocates and agricultural industry representatives.

“And, as a customer owned bank, we’re guided by the views of our customers who have helped shape our approach to responsible banking. Many of them have told us that they don’t want their money being used to support practices that cause harm and distress to animals.”

The Weekly Times has contacted Animals Australia for comment.

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