Commonwealth Bank CEO Ian Narev speaks to the House of Representatives standing committee on economics.
The initial day of the parliamentary interrogation of the big banks’ chiefs has probably only strengthened the hand of those urging a royal commission. Malcolm Turnbull proposed bank executives should…
Malcolm Turnbull has downplayed calls for a royal commission into the banks, arguing that their operations are already well governed.
The politics that Malcolm Turnbull and the big banks support is one in which people are robbed of their citizenship and reduced to economic functionaries.
The Commonwealth Bank’s chief executive Ian Narev apologised to clients given poor financial planning advice.
Major banks including the ANZ, NAB, the CBA and Macquarie have faced a public humbling, but professed contrition must become real action.