Banking ‘Bullies’ Leave Vulnerable People Open to Scams

This combination of photos taken show the signs of the "Big Four" Australian banks in Sydney, Australia, on Nov. 30, 2017. Peter Parks/AFP via Getty Images

Major banks are “bullies” who are abandoning rural communities and leaving vulnerable customers at risk of financial scams, a Senate inquiry has been told.

Nearly 800 bank branches have closed in regional and rural Australia since June 2017, according to data from the Australian Prudential Regulation Authority (APRA).