Articles on Banking royal commission

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In a survey of 1,000 Australians, 35.4% agreed banking and financial institutions show ‘no leadership for the greater good’. Shutterstock

One-third of Australians think banks do nothing for the greater public good

More than a third (35.4%) of respondents surveyed by the Australian Leadership Index believe banking and financial institutions show "no leadership for the greater good".
Ken Henry on ABC 7.30 Thursday night. “We have not been able to satisfy customer expectations, nor community expectations. As I said, for that, we are deeply sorry.” ABC

Defence mechanisms. Why NAB chairman Ken Henry lost his job

We get defensive when the social order we have become accustomed to is challenged. We attempt to protect ourselves through projection, denial, games, blame, or rationalisation.
The remote community of Urapunga in South East Arnhem Land, more at the mercy of the finance industry than most. J. Louth

Banking Royal Commission: How Hayne failed remote Australia

It's far away from the cities and towns where banks and finance companies are really predatory, but it's not where Hayne looked.
In his letter Shorten said he noted that “government has agreed to some important legislative changes” arising from the commission. Rob Blakers/AAP

Shorten: we should legislate on Hayne recommendations before election

In a letter to Morrison, Shorten said both houses should be recalled on March 5-7 and March 12-14. The sitting calendar has only 10 sitting days before the election.
Canadian bank boards are bigger, much bigger. It means they can deal with what’s in front of them. Shutterstock

Pro tip for Australia’s banks: imagine you are in Canada

Evidence before the royal commission suggests Australian bank boards have been overpaid, underskilled and understaffed compared with those overseas.
The Deepwater Horizon disaster in April 2010 killed 11 workers and caused the greatest environmental disaster in US history. Banking regulators can learn from the penalities introduced to motivate executive interest in putting safety first. EPA/US Coast Guard/Handout

What banking regulators can learn from Deepwater Horizon and other industrial catastrophes

Banking executives have huge incentives to maximise profits at all costs. They need equally compelling incentives to do the right thing.

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