Media Release

In light of the ANZ’s decision to call a 12 month moratorium on foreclosures yesterday, KAP Leader and Federal Member for Kennedy Bob Katter has questioned why the remaining big four Banks, NAB, Commonwealth and Westpac, have failed to call a moratorium on foreclosures.

“If the remaining big four banks have no potential foreclosures on their books, what do they have to lose by calling a moratorium on foreclosures?” Mr Katter said.

“The leading banks are refusing to call a moratorium as the reality is that they are selling up people while their properties don’t have a blade of grass on them.

“These banks are coming out and saying that they have no foreclosures in the pipelines. What about the subsidiary banks underneath them, the big four banks control a lot of the smaller banks out in the bush.

“The banks say they’re not foreclosing but often they are using the mirage of inducement. People think if they sign the bank’s forms, if they sign over their properties, they won’t go bankrupt.

Yesterday Mr Katter said he would name and shame banks that take possession of a property of a farmer affected by drought before the wet season arrives.

“We still warn these banks that we’re going to name and shame. If you think you’re going to get away with you cunning maneuvers, using inducement or using a subsidiary bank to hide behind, you will still be named and shamed.

“We are asking for no foreclosures until after the wet season and for an Australian Reconstruction and Development Board to take over existing debt at a reduced rate and loan it back to farmers at low interest rates,” Mr Katter said.

Any persons wishing to name and shame banks can do so by contacting the offices of Rob Katter on (07) 4743 5149, Shane Knuth on (07) 4787 2139, Bob Katter on (07) 4061 6066 or by emailing nameandshamebanks@gmail.com