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Business

Stephanie Gardiner

More regulation urged for banks 'failing' rural towns

A committee has spent a year in rural areas to hear about the impacts of country bank closures. (Joel Carrett/AAP PHOTOS)

A banking regulator should have veto power over branch closures, otherwise country communities will continue to pay the price of losing essential services, a long-running inquiry has found.

The Senate inquiry into branch closures across rural Australia released its final report on Friday afternoon, making eight recommendations to protect the future of regional banking.

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