Doctors take vows to act in the best interests of their patients. They work.
The best way to get bankers to behave well might be to bind them to a code of ethics, like doctors. We've tried ever tighter rules.
To protect bank customers, the law could mandate behaviour defined in a code of conduct to be strictly liable, and breaches criminal.
Banks have viewed their codes of conduct as non-binding statements of comfort. They need to enforce them under pain of legal penalty.
Danske Bank is under investigation for money laundering.
Denmark's biggest financial institution has admitted that around €200 billion of questionable money flowed through its Estonian branch from 2007-15.
Michelle Grattan speaks with Deep Saini about the week in Australian politics.
Whether Morrison would be at his strongest in March or May is a moot point.
The Morrison and Berejiklian governments might be of the same stripe but, with both facing elections in the first half of 2019, their interests rub up against each other uncomfortably.
Clare O'Neil on Labor’s listening tour for banking victims.
Shadow minister for financial services Clare O'Neil says the ALP exercise will give a voice to people in areas the Royal Commission hasn't had time to visit.
The big four play on trust, laziness and inertia, according to the interim report of the Banking Royal Commission.
The banks get most of the blame in Commissioner Hayne's explosive report, but there's some for us as well.
Financial Services Royal Commissioner Justice Kenneth Hayne.
Rather than introducing still more laws to regulate banks there is a case for stripping down the ones we have got to make their aims crystal clear, Commissioner Hayne says in his interim report.
Christie’s auctions off a Lehman Brothers sign in 2010.
It's when times are good that the seeds of the next financial crisis are sown.
Challenger banks are built on the latest tech.
Challenger banks are on the rise but they need to prove themselves to be trustworthy to survive – and profit.
From the first hearings of the royal commission, the senior counsel assisting, Rowena Orr QC, laid bare the toxic culture behind many consumer lending practices.
Restructuring might help manage conflicts of interest between offering advice and selling products, but it doesn't fix the culture that sacrifices customers' interests to the pursuit of profits.
CFPB interim director Mick Mulvaney has brought the bureau to a near-standstill.
The president recently nominated a new permanent director to take over the Consumer Financial Protection Bureau. With the CFPB doing a fraction of the work it did under Obama, what kind of agency will she lead?
Carolyn Flanagan gave evidence at the third round of hearings of the banking royal commission.
Evidence in front of the banking royal commission today is very similar to the case that sparked consumer protection laws more than 30 years ago.
For financial advisers, we are already moving away from the payment of commissions in favour of fee for service. We still need a further shift in mindset.
While codes of conduct in banking may help, the tsunami of financial regulation over the past few decades has swept aside much of the sense of personal accountability.
The Financial Services Royal Commission has exposed some irresponsible lending by Australia’s biggest banks.
The financial institutions fronting the Financial Services Royal Commission are also the ones controlling mortgages, so will an expose of their dealings push property prices down?
Malcolm Turnbull defended refusing for so long to set up a royal commission.
As the banking royal commission continues to expose wrongdoings, the pressure is intensifying on the corporate regulator.
O'Dwyer’s effort to avoid any confession of error just drew more attention to the bad call.
This bald-faced refusal to acknowledge their own inconvenient history in part comes from the politicians' belief that if you just burnish the "spin", you can get away with saying anything.
Michelle Grattan speaks to University of Canberra's Deep Saini about the week in Australian politics.
In light of what is coming out the government should be ashamed of its past performance.
Just why the government was so keen to shield an industry where wrongdoing had been obvious is not entirely clear.
The cabbage plantation on Lonwabo Jwili’s farm emerged from the toils that up-and-coming black farmers have to endure.
South Africa's land reform process will fail if it continues to neglect small and emerging black farmers.