4 February 2019
The Australian banking industry acknowledges the rigour and diligence that Commissioner Hayne and his team have brought to this task.
The industry thanks all those customers who brought their personal experiences to the Commission – it is their courage underpinning this report.
This Commission has put the entire banking sector under the microscope. And this Final Report lays bare how banks have failed their customers and let down the Australian public.
Banks understand these failures have caused deep hurt, suffering and heartache for far too many customers and are sorry for the pain they have caused.
Banks accept full responsibility for these failings and know that they must now change to ensure this never happens again.
Banks are determined to learn the lessons, fix the problems and make it right.
Australians expect better from their banks and they deserve better.
This Report contains some very tough medicine for banks, including potential court cases.
The industry has already formed a Taskforce to begin the work that will be needed to get this job done.
This report is a roadmap for the industry to drive the change needed to earn back the trust of the Australian people.
This is an opportunity for banks to reset their relationship with customers and the public and they are determined not to miss it.
The industry understands that many people are cynical about whether banks will really change, but don’t judge us by our words, judge us by our actions.
ENDS
Contact: Rory Grant 0475 741 007
Latest news
We write on behalf of the undersigned Alliance of Industry Associations to raise a growing concern aboutgovernment’s inadequate consultation on recent complex legislative and regulatory reforms. We represent 30groups from across the economy including small, medium and large businesses, farmers, builders, retailers,universities and tax and accounting professionals. Our organisations support genuine and timely consultation as… Read more »
The ABA welcomes the release of the Federal Government’s response to the Parliamentary Joint Committee on Corporations and Financial Services’ inquiry into financial abuse, released today. ABA CEO Simon Birmingham acknowledged the important work of the committee as well as the Government’s response and said banks were committed to protecting customers from the scourge of… Read more »
E&OERadio InterviewInterview ABC Statewide Drive Victoria9 October 2026 Topics: Regional banking Jane Nield: Well, do you still have a bank branch in your local area? If you’re one of the more than 600 regional locations nationwide that have lost a bank in the last few years, did it have a big impact? So often, it… Read more »