fbpx
Skip to main content
Tropical Cyclone Seroja: Emergency Assistance

Statement from CEO Anna Bligh

20 April 2018

The past few days of hearings at the Royal Commission have been sobering for the entire industry.

The issues raised have been unacceptable and do not meet the high standards the community rightly expects of banks.

Australia’s banks are committed to tackling misconduct head-on and strongly back the reforms proposed today by the Turnbull Government to penalise bad conduct within the industry.

A stronger range of penalties for misconduct is vital to tackling criminal and unacceptable behaviour by individuals and corporations.

The industry has supported the strengthening of the penalties regime for misconduct since the Federal Government announced its review 18 months ago, as an outcome of the Financial Services Inquiry.

Before today’s announcement, banks had already recognised the need for change and have put in place a rigorous conduct background check for bank employees to stop those with a history of misconduct simply moving from one institution to another.

Many of the issues raised over the last few days are the subject of investigation with changes already underway in the sector to ensure cases such as these cannot reoccur. The industry expects that further changes should and will be made following the final recommendations of the Commission.

ENDS
Contact: Rory Grant 0475 741 007

Latest news

1 / 3
Media Releases
Support available for customers affected by Tropical Cyclone Seroja
15 April 2021

Australian banks are ready to help customers in Western Australia who are rebuilding after the destruction inflicted by Tropical Cyclone Seroja. Communities in WA’s mid-west were devastated by the cyclone last week, when it crossed the coast near the town of Kalbarri. Geraldton, Northampton, Binnu, Chapman Valley, Mingenew and a number of other towns were… Read more »

Read more
Media Releases
Banks unite to help customers experiencing financial abuse
4 April 2021

Australian banks are launching updated guidelines on financial abuse as part of their continued focus on responding to family violence and elder abuse.

Read more
Media Releases
Banks call for consistent laws to prevent elder abuse
31 March 2021

Australian banks are urging state and territory governments to adopt consistent laws on powers of attorney to prevent elder financial abuse.

Read more