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The federal government has announced a royal commission into banks and other financial services entities. AAP

Banking royal commission will expose the real cost of bad behaviour

Even though the Prime Minister and heads of the big four banks argue costly political uncertainty is the reason for the royal commission, experts argue the banks' behaviour itself is the real cost.
APRA’s independent inquiry panel member, John Laker, who is also chairman of the Banking Finance Oath initiative, will be one of the ones holding the CBA to account. DAN HIMBRECHTS/AAP

Where the accountability problems started at CBA

One scandal at the CBA stands out above all others, It set the scene for how the CBA board would handle future scandals, that is to obfuscate, prevaricate and litigate.
In the case of CommInsure, the treatment of the Chief Medical Officer, Benjamin Koh, seemed designed to send a message to other bank staff – keep your head down, or else! Dave Hunt/AAP

APRA needs to protect whistleblowers in the CBA inquiry

Without clear support for whistleblowers in the terms of reference for the inquiry into CBA’s corporate governance, the conclusions will inevitably be tainted.
APRA chairman Wayne Byres says the inquiry will provide the CBA with change recommendations. Mick Tsikas/AAP

APRA could have investigated CBA years ago: experts

The APRA inquiry puts the regulator in the tricky position of trying to be seen to be tough on bank scandals but juggling its close relationship with the government and the CBA.
Amid a sea of troubles – including the premature loss of their CEO and a money-laundering scandal – the CBA is facing a shareholder lawsuit. AAP Image/Dave Hunt

Climate change is a financial risk, according to a lawsuit against the CBA

A new lawsuit against the CBA puts climate change in a new legal light: a financial hazard. The case opens up fresh lines of attack on institutions that contribute to climate change.
Banking inquiries in their current form serve as political theatre, rather than as a genuine form of accountability. Lukas Coch/AAP

Banking inquiry findings – ask the wrong questions get the wrong answers

Members of House Standing Committee on Economics should be asking the directors of Australia's Big Four banks (not the CEOs) different questions, if they really want the right answers.

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