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Banking business as usual

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Banking business as usual

If the banks make concessions to borrowers deprived of income due to the pandemic it will be their first socially considerate act since financial deregulation. By Evan Jones | On 16 July 2020

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Gary Heathwood and Carroll Heathwood : Our Experience with the National Australia Bank

Published in Bank Victims
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MORE NAB VICTIMS: NAB's Unconscionable Actions and Irresponsible Lending, Nab's practices still coming to light.

NAB STILL IN DENIAL AND REFUSES TO ACCEPT THE CONSEQUENCES OF THEIR BEHAVIOUR

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NAB suffers dramatic 10.6% profit fall in wake of banking royal commission

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NAB’s interim chief executive, Phil Chronican, has announced a sharp fall in profit, in part due to the scandals exposed by the banking royal commission. Photograph: Bianca de Marchi/AAP

No short-term bonuses or pay rises for bosses as lender puts aside $1.1bn in damages for customers. NAB has wound up a traumatic 12 months in which it lost its chief executive and chairman by announcing a 10.6% drop in full-year profit and cutting its final dividend.

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Prosecutions needed to prevent banking industry slipping back

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Adele Ferguson told the event that serious sanctions were required.CREDIT:STEVEN WOODBURN

Prosecutions of senior banking figures are required if the industry is to shake off recent scandals and leave behind the taint of the banking royal commission, investigative journalist Adele Ferguson has warned.

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Bank Victims Lose the Royal Commission and the Election

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Bank Victims Lose the Royal Commission and the Election

The Parties and the election. The return of the Morrison federal government is a disaster for all bank victims. Labor, with Shadow Minister for Financial Services Clare O’Neil at the helm, readily absorbed the essential story re small business and farmer victims at its regional forums. Evan Jones

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A Banking Regime Steeped in Inefficiency

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A Banking Regime Steeped in Inefficiency

“WHEREAS Australia has one of the strongest and most stable banking, superannuation and financial services industries in the world, which performs a critical role in underpinning the Australian economy.

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Senate banking inquiry launched after banking victims complain of 'kick in the guts'

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Kenneth Hayne made 76 recommendations for sweeping reforms across the financial services industry.

The big four banks will face another Parliamentary inquiry in the immediate aftermath of the banking royal commission, as victims groups criticise royal commissioner Kenneth Hayne and the Morrison government for failing to provide meaningful redress for thousands of customers.

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NEW PENALTIES FOR BANKING MISCONDUCT PASS SENATE AFTER LABOR BACK-FLIP

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NEW PENALTIES FOR BANKING MISCONDUCT PASS SENATE AFTER LABOR BACK-FLIP

Criminal and civil penalties for corporate and financial sector misconduct are set to significantly increase, following a Labor Party back-flip and passage of legislation through the Senate. The legislation will now go to the House.

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Hayne Covers Up More Than He Reveals

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Did he ask for more power and time? He should have.

Summary: Commissioner Hayne took on a role that deliberately limited his chances of successfully exposing the serious misconduct and crimes bankers are engaging in and profiting from. While there are some good suggestions for reforms in his report - he is really tinkering around the edges. While many in the media are keen to analyse what he has come up with - the real story is what he didn't look at. This article from Bank Reform Now exposes the lot. Please comment below and at the BRN Facebook page >> www.facebook.com/bankreformnow/posts/1836550893120217

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Hayne delivers final report on banking royal commission to GG

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Commissioner Kenneth Hayne arrives at government house with the final report of the royal commission. CREDIT:AAP

The final report of the banking royal commission has been handed to Governor-General Peter Cosgrove ahead of its public release on Monday afternoon. Commissioner Kenneth Hayne and commission chief executive Toni Pirani delivered the report to Government House in Canberra on Friday morning.

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