RIP bank branches: Nearly 90% of Aussies say they won’t return
Anna Wall, 04 May 2021
During the pandemic, Australians were forced to use online banking over branches and, as a result, there has been a continuous string of banks shutting up their physical branches. Now, a new report suggests that 88 per cent of Aussies won’t care, as they’ve well and truly embraced the digital banking age. So is this the beginning of the end for bank branches?
The new research by GB Group (GBG) and Retail Finance Intelligence Pty Ltd (RFi) showed the majority of Australians are embracing the age of digital banking, with 88 per cent saying they won’t go back to their pre-pandemic branch usage. The report comes as many banks grapple with the decision to close branches across the country. Continue reading “Article: RIP bank branches: Nearly 90% of Aussies say they won’t return”
Huge Winter Storm Gas Bills Push Cities to the Brink
Alex Brown, 23 March 2021
The tiny city of Denison, Kansas, came to the brink of insolvency so fast last month that its leaders hadn’t figured out how to begin the bankruptcy process.
“We don’t even know how to go under,” said Vickie Wold, the city council president. “How the city fails, what happens here—we’re just hoping and praying.”
Denison has fewer than 200 residents, and in a typical February, the city pays about $4,000 to provide them with natural gas to heat their homes. Last month, the bill came to $242,498.
“We can’t write that check,” Wold said. “There’s no way we can pay that, and we can’t pass it on to these people, some of whom are struggling to keep their utilities paid as it is.”
Many cities in the Midwest are facing a similar crisis. A variety of towns large and small operate their own municipal utilities, providing services such as gas, electricity and water to residents. Some small towns exist as political entities primarily to provide those services. Continue reading “Article: Huge Winter Storm Gas Bills Push Cities to the Brink”