Backstory: Cutting through corporate jargon to make sense of the banking royal commission
6 years, 7 months ago

Backstory: Cutting through corporate jargon to make sense of the banking royal commission

ABC  

Business reporter Daniel Ziffer explains the challenges journalists faced reporting on complex financial matters raised at the banking royal commission. When I was told I'd be covering the banking royal commission I knew it would be interesting, but I struggled to see how much dirt it could dig up after more than 70 relatively recent inquiries and reviews from parliamentary committees, expert panels and regulators. Journalism is so often about projecting confidence that I feel like I'm letting the team down here, but through many of the hundreds of hours of hearings at the banking royal commission I just didn't know what was going on. Daniel Ziffer has produced a documentary Banking Royal Commission available on iview.

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History of this topic

Did the royal commission fix banking or are banks back to behaving badly?
2 years, 4 months ago

Did the royal commission fix banking or are banks back to behaving badly?

ABC  

This coming week, it has been five years since then-prime minister Malcolm Turnbull announced a royal commission into scandals and misconduct in the banking industry. The latest estimate from regulator the Australian Securities and Investments Commission is mind-boggling: A share of more than $3.6 billion has been paid back to more than 1.4 million customers for 'fees for no service' …

Post royal commission report, banks will start a new lobbying campaign — but customers pick up the bill
6 years, 1 month ago

Post royal commission report, banks will start a new lobbying campaign — but customers pick up the bill

ABC  

The verdict is in and the sentence delivered. But the fallout from the Hayne Royal Commission's explosive report into the state of Australia's financial services sector will reverberate through the community and the economy for years. Rather than a radical overhaul, however, or a massive restructure of the system, the royal commission has taken aim exactly where it will hurt …

The banking royal commission must answer these questions to fix Australia's broken system
6 years, 1 month ago

The banking royal commission must answer these questions to fix Australia's broken system

ABC  

What can we expect in the final report of the banking royal commission, to be handed to the Governor-General this Friday? The commission travelled around the country and even beyond the realm of the living — you might recall that the Commonwealth Bank, and others, charged dead people money for "personal advice". Hayne's interim report Photo shows The big four …

Banking royal commission summed up in NAB's befuddled performance
6 years, 3 months ago

Banking royal commission summed up in NAB's befuddled performance

ABC  

It has been a year of dragging out the dirty laundry of Australia's banks: appalling scandals, executive inaction and bad decisions that hurt customers. CEO Andrew Thorburn and chair Ken Henry were both witnesses this week, offering starkly different takes on the harsh sunlight filtering through to previously opaque banking practices. After a parliamentary inquiry in Canberra this year, Mr …

Banking Royal Commission: banks' misconduct, not Kenneth Hayne's inquiry, behind lack of confidence in sector
6 years, 7 months ago

Banking Royal Commission: banks' misconduct, not Kenneth Hayne's inquiry, behind lack of confidence in sector

ABC  

Banking royal commissioner Kenneth Hayne, it seems, has a great deal to answer for. Tech entrepreneur Christian Beck, reputedly worth $775 million, claimed he was knocked back on a $6 million loan from an unnamed bank or banks, despite offering one of his multi-million dollar properties as collateral. "The royal commission has done the west no favours as banks tighten …

What we did (or didn't) find out about the banking royal commission
7 years, 1 month ago

What we did (or didn't) find out about the banking royal commission

ABC  

Commissioner Kenneth Hayne QC on Monday opened the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. We heard the banks might miss a deadline to provide additional information on misconduct, people who broke confidentiality agreements to give evidence or make submissions will be protected from legal action and that the royal commission doesn't have a lot …

Banking royal commission to invite victims to submit stories
7 years, 2 months ago

Banking royal commission to invite victims to submit stories

ABC  

Victims of bad bank behaviour will be called on to share their stories, the financial services royal commission has confirmed. "The commission has written to a range of entities in the banking, superannuation and financial services sectors as well as consumer advocates and regulatory bodies seeking information about matters raised in the terms of reference," a spokesperson for the royal …

Banking royal commission: Fears customers are being shut out from having their say
7 years, 2 months ago

Banking royal commission: Fears customers are being shut out from having their say

ABC  

It has been six weeks since the financial services royal commission was announced, but victims of bank misconduct remain in limbo about when, how, and even if they can have their voices heard. Key points: Royal commission website has no way for members of the public to lodge complaints ACTU says call centre was operational within two weeks of unions …

Banking royal commission could be a superannuation sting that backfires
7 years, 3 months ago

Banking royal commission could be a superannuation sting that backfires

ABC  

More a tactical retreat. Why the banks hate not for profit super funds Each week, almost 10 per cent of every worker's salary is directed straight into the arms of the superannuation industry. Industry funds — bosses and workers In the past few years, the retail funds have launched a relentless campaign against industry funds, attempting to break the stranglehold …

Here's what we know about the banking royal commission
7 years, 3 months ago

Here's what we know about the banking royal commission

ABC  

Now that we've all had some space to digest Malcolm Turnbull's decision to call a royal commission into the banking sector, let's recap what we know about how it's going to work and what it will do. But, TL;DR: calls for a royal commission into the banking sector go back at least three years, when a Senate committee recommended a …

Banking royal commission: How did we get here?
7 years, 3 months ago

Banking royal commission: How did we get here?

ABC  

The Prime Minister said it wouldn't happen, but it has. The inquiry Turnbull was forced to have Photo shows Malcolm Turnbull frowns, with his eyes cast downward, at a press conference in a courtyard The PM has spent a year-and-a-half stridently opposing calls for a royal commission into the banks, but in the end, resistance was futile. The big four …

Royal commission into banking: The inquiry that could kill the Government
7 years, 3 months ago

Royal commission into banking: The inquiry that could kill the Government

ABC  

The onslaught has begun. But it is the recent sacking of more than 20 National Australia Bank employees and looming court action that has the potential to get to the heart of one of the economy's major flash-points; how our banks have helped artificially inflate the property market by aggressively pushing loans on to customers. The great Australian bank subsidy …

Bank inquiry a victory for public relations
8 years, 5 months ago

Bank inquiry a victory for public relations

ABC  

Last week's parliamentary bank hearings were a roaring success - from a public relations standpoint. Government MPs got to act tough on the banks, even while opposing a royal commission, putting forward a banking tribunal for consumer redress and asking some genuinely good questions of the big four's bosses. Last week, unfortunately just after the banking inquiry wound up, UBS …

Banking inquiry: What have we learnt and where to from here?
8 years, 5 months ago

Banking inquiry: What have we learnt and where to from here?

ABC  

The banking inquiry has laid bare a litany of examples of bad behaviour, with each of the big four plagued by their own separate scandals. The biggest news from inside the inquiry was ANZ's revelation it was considering following NAB and stopping donations to the major political parties — if anything a display of the banks taking the moral high-ground. …

Four myths busted: Why we need a banking royal commission
8 years, 7 months ago

Four myths busted: Why we need a banking royal commission

ABC  

Tens of thousands of Australians have had their lives ruined by the major banks. If there's no need for a Royal Commission because ASIC has greater powers, then why is the Turnbull Government wasting time and money on a parliamentary inquiry that has less power than both? Let's see if you can twist your mind around this: If there's no …

NAB, ANZ bosses say calls for royal commission in banking a 'serious distraction'
8 years, 11 months ago

NAB, ANZ bosses say calls for royal commission in banking a 'serious distraction'

ABC  

The bosses of Australia's biggest banks have dismissed Labor's call for a royal commission into the financial sector as the Federal Government rules out launching its own. ANZ chief executive Shayne Elliott also said there had been a number of recent inquiries into the industry and a royal commission could damage Australia's standing among global investors. Government rejects royal commission, …

Parliamentary Standards Commission makes call to get tough with the bankers
11 years, 9 months ago

Parliamentary Standards Commission makes call to get tough with the bankers

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Bankers who behave negligently in …

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