LETTER TO THE TREASURER
RIEN LOW

Dear Mr Frydenberg,

My name is Rien Low, I was one of the witnesses in the recent Royal Commission into banking.

I have recently learnt that you intend to change the laws around banking.

Before you make these decisions may I remind you of a few things that I can only assume you have forgotten.

Being a witness in the Royal Commission is not only terrifying, it is stressful, you are put in a very uncomfortable position to speak about a topic that is extremely private. Above all of this, its emotional. Its exhausting.

The detail at which we are interviewed is thorough. You must sit up there on the stand and answer some very personal questions – some of these questions stir emotions that have not been visited for a long time.

I am on this stand because my father was killed at work. My mother not being able to pay her mortgage after the accident was told to sell her home. Suncorp was the bank. Suncorp were found to have irresponsibly lent money to my father. Yet, we were in this situation.

My mother now lives with me, she is unable to afford her own lifestyle because a bank didn’t do their job properly. I still to this day am shocked at what Suncorp has gotten away with.

My mother had to be sent into rehab. After losing my dad – Her husband of 43 years, she lost our family home not long after. This home was full of happy memories. This home had to be sold because Suncorp were not willing to offer us any assistance. Not one phone call. Not one member of staff at the bank offered any help. Mum was not able to see any hope in the future, losing your husband, your home, and all of your money, she hit rock bottom and needed a lot of help. To this day she has never been the same.

Mum was not able to see any hope in the future, losing your husband, your home, and all of your money, she hit rock bottom…To this day she has never been the same.

What was the point of the Royal Commission?
How many reforms from the recommendation have actually been implemented?

Being part of this Royal Commission, I was hoping to change the banking culture and laws. I don’t want anyone to go through what we have been through. It has been hell.

Not only has this Royal Commission been an absolute waste of time for myself and all the other affected, it has now been a joke.
What was the point of the Royal Commission?
How many reforms from the recommendation have actually been implemented?
It angers me that this has not been taken seriously.

To hear you are pushing for these laws to be shifted so the responsibility is taken away from the banks and given to the customer is not a good option.

Banks will take advantage of this. Banks are greedy.

I have seen what happens when banks over lend. It is not good, there are human stories to each loan a bank lends. These need to be stringently assessed to make sure that if a situation changes the consumer and the bank are able to find a solution that both parties agree on.

Once again, the banks will over lend, customers will then be placed back in the same position before the Royal Commission. I honestly have no idea how you think this a good idea?

Banks are greedy and they will never learn if there are not rules put in place.

Please call me some time, I would love to speak with you about my views.

Mr Frydenberg, if you push for these laws to be changed you are allowing situations like mine to continue. Please don’t.

Kind regards,

Rien Low

PARAGRAPH FROM JENNIFER

Dear Mr Frydenberg

These laws are put in place to prevent situations like ours, we are just one family who were lucky enough to speak at the Royal Commission, what about all the others that weren’t.

This Royal Commission has obviously been a waste of taxpayer’s money – a non-event.

Nothing has been resolved.

Changing these rules will only help the banks,

Regards,

Jennifer Low – Widow.

REMEMBER THE BANKING ROYAL COMMISSION?

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