Vox

Report reveals push for profits compromises finance sector staff

This article is republished from Mirage news.

A Report commissioned by the Finance Sector Union of Australia (FSU) and completed by the Religion and Social Policy Network of the University of Divinity has found the finance sector’s concentration on profits at all costs compromises the ethical integrity of workers in the industry.

Entitled “Justice Tempered” the Report examines the impact that the internal policies of banks and finance sector companies have on the working lives of eight FSU members.

The Report argues that while the Banking Royal Commission uncovered widespread misconduct in Australia’s banking and financial services sector, it failed to fully come to terms with the cause of that misconduct.

FSU National Secretary Julia Angrisano said the Justice Tempered Report confirms what workers in the finance sector have known for a long time.

“Workers have borne the brunt of efforts to extract maximum profits with every inch of their working lives ‘measured’ by the employer,” she said.

“They are expected to sell loans to their friends, spruik their employers at children’s football games and never express a critical thought about the way their employer behaves.”

“Workers have been the ‘forgotten people’ in the fall-out from the Hayne Royal Commission.”

“While the focus has been on the unconscionable law-breaking practices and policies of the finance industry, the effects of these policies and practices continue to cause harm to frontline staff.”

Copies of the report are available here:

https://www.fsunion.org.au/wp-content/JusticeFSU-final-report.draft

Add comment

About VOX

VOX brings members of the University, especially academic staff, into conversation with churches, the community and you. It publishes original material and may republish or link to items from blogs, social media and news media.

Upcoming Events

  1. Research Matters: SGR Open Day 1 (online)

    Thursday, 5 August, 6:30 pm8:00 pm AEST
  2. Spirited Women ACWR Conference

    Friday, 6 August, 8:00 amSunday, 8 August, 5:00 pm AEST
  3. Liturgy on the Move: Pentecostal, Aboriginal and Secular Collisions – Northey Lecture 2021

    Friday, 6 August, 10:30 am12:00 pm AEST
  4. What Is Midrash Rabbah on Genesis and Why Does It Matter?

    Friday, 6 August, 1:00 pm2:00 pm AEST
  5. Worship in Native Lectionaries Motions – Northey Lecture 2021

    Friday, 6 August, 1:30 pm3:00 pm AEST