A former pub owner who borrowed money from BankWest testifies at the Banking Royal Commission
Channel: Banking Royal Commission
Date: 11/06/2018

[3.20] Stephen Weller, former owner of the Nambucca Hotel in Macksville NSW, gives evidence on how BankWest (owned by Commonwealth Bank of Australia) forced him to sell his pub, after changing the loan term from 15 to just two years, increasing the interest rates charged and increasing the amount of principal repayments.

Recorded on 28 May 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.

Witness statement:
https://bit.ly/2HoVm8r

Exhibit documents:
https://bit.ly/2Hf5BMo

Transcript:
https://bit.ly/2snh2x9

Testimony held during the third round of public hearings on lending to small and medium enterprises at the Australian Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

This video was extracted from the Royal Commission’s webcast archive and republished here as permitted under its Creative Commons Attribution 4.0 International licence. The source file, containing the raw archived webcast of the entire day of hearings, was trimmed to only retain the testimony of the above witness(es) and remove any breaks and offline periods of the webcast. For testimonies held over multiple days, separate source files would have been combined to create one consolidated video.

Video Source: https://bit.ly/2XBSBKh
Copyright information: https://bit.ly/2K2JMl2
Creative Commons license information: https://bit.ly/1rMF155

Whilst permitted under its Creative Commons licence, the republication of this content on YouTube is not officially endorsed by the Royal Commission nor the Commonwealth of Australia.

© Commonwealth of Australia 2018.

#bankingRC