When institutions hold power over the financial lives of the vulnerable, the question of who bears the burden of access becomes a moral one. Australia's competition regulator has answered that question by ordering Commonwealth Bank to actively seek out 1.5 million low-income customers and move them into fee-free accounts — rejecting the bank's preference to wait for struggling people to find help themselves. The ruling, binding across 20 banks for five years, marks a quiet but significant reordering of responsibility: the institution must come to the person, not the other way around.
CBA to move 1.5M customers to fee-free accounts after ACCC ruling
Over 150,000 low-income Australians were charged $6 million in unnecessary fees over 12 months despite being eligible for lower-cost accounts.