The big bad Banks snidely taking the money of hardworking and innocent individuals contribute to yet another number of excessive profits. This unjust power that Banks hold over Australians today is demeaning our moral integrity and rights. Australian people face daily dissatisfaction and have grown tired of the lies that Banks feed us. Just how can we as consumers trust Banks that do not give public reports on their successes and financial figures. Are the Banks we trust and depend on withholding important information from us and for what reason are they dealing in secrecy. We will discuss ways of which our nation can leap forward through this issue to achieve the Common Good for all. The Human Dignity of each person, their rights and dignity, should be respected.

Many Australians know the difficulty and can agree in some sense know the struggle that people face when trying to settle and legally stay in Australia. However, these people can be easily fooled by the trap that Banks put out for them to be caught in. Two migrants from Mauritius settled down in Melbourne, Australia struggling with earning enough money they went to a financial advisor who advised them to go to the successful Commonwealth Bank and simply ‘borrow from the Bank’ to assist them in buying the land and building their house. Eleven years later with many more expenses due to their children and health priorities as well as the increasing interest rate set by the Bank, they are still paying off their home loan ‘mortgage’ of their own home. With retirement now on their mind they wonder if it is even worth paying for a house that the Australian Bank wants to own.

These four Banks of Australia known as CommBank, Westpac, ANZ and NAB operate independently with themselves at the forefront of their earnings. NAB Chief mentioned that Banks started ‘drifting from customers twenty years ago’ (The Guardian, 2018). Notably disregarding the Catholic Social Teaching Principle of Preferential Option for the Poor which highlights the necessity of a just and equal society for all to live in.

Advocacy is important in facilitating the discussion and direction towards changing the power that Banks have to indeed support the consumers and achieve justice. Justice may be served through the admitted nation response of responsibility for the Banks actions and general compensation for damages and loss of customers. Which they are lawfully entitled to in Australia. For Human Dignity to be achieved everyone must equally respect the other. To do so there was a Royal Commission conducted by the federal government issuing an official warning to the Banks. If the Banks were to accordingly apologise, they henceforth admit to the truth that they value other people and every human is sacred.

Human Dignity refers to being made in the likeness and image of God and by renouncing their wrongdoings and making amends the employees of the Banks stand in the image of God. This also encourages human flourishing and fulfilment. If the Banks are committed to serving consumers first, they will work to acknowledge the dignity of the human person. The needs of all people are met and the Common Good is shared by a just and inclusive society that operates good services. In my future professional practice of a Business and Event Management, I have to effectively consider and evaluate the everchanging international economy, value of money and frequently assort money into bank accounts. To administer great success in my career, I tentatively question whether I can fully trust the bank and furthermore whether I alongside other Australians construct a well insured back-up plan.

Bibliography

Yeates, C 2018 - Do we trust banks? - We're going to know soon Retrieved 20 October 2018, from https://www.smh.com.au/business/banking-and-finance/do-we-trust-banks-we-re-going-to-know-soon-20180416-p4z9yq.html.

Financial Services Royal Commission, 2018, Financial Services Royal Commission, Home. Retrieved 20 October 2018, from https://financialservices.royalcommission.gov.au/Pages/default.aspx.

The Guardian, 2018 - Banking royal commission – Australia news. Retrieved 20 October 2018, from https://www.theguardian.com/australia-news/banking-royal-commission.

Caritas, 2018 - Preferential Option for the Poor - Caring for the poor is everyone's responsibility. Retrieved 20 October 2018, from https://www.caritas.org.au/learn/catholic-social-teaching/preferential-option-for-the-poor.

Starts at 60, 2018, NAB penalise 700 workers after royal commission exposes ‘appalling behaviour’. Retrieved 20 October 2018, from https://startsat60.com/money/banking/banking-royal-commission-national-australia-bank-nab-apologise-misconduct.