Home > Industry > It’s D-Day For Banking Industry: Will Some Be Heading To The Slammer?

It’s D-Day For Banking Industry: Will Some Be Heading To The Slammer?

Media and industry lobby groups this morning are being held in a three-hour lock-up to digest the long-awaited final report of the Banking Royal Commission headed by commissioner Kenneth Hayne.

Treasurer Josh Frydenberg has indicated that the Government will give in-principle support to all of Hayne’s recommendations.

Shadow treasurer Chris Bowen has also pledged to implement the recommendations in full if Labor wins the coming federal election.

Senior staff at the big four banks – Commonwealth, NAB, Westpac and ANZ – are especially nervous, given allegations of criminal conduct by many of their highest ranking staff during the royal commission hearings.

The banks have been especially furious that they would not be permitted inside the industry lock-up, according to a Fairfax report.



You may also like
Bunnings Is Australia’s Most Trusted Brand, Woolworths Drops After Woke Campaign
Telstra Drastically Cuts Back On Problem Legacy Platforms
Buy-now-pay-later Zip Rumoured For Takeover
ACMA Fines Outdoor Supacentre $300,000
Commonwealth Bank Sends Out Major Alert Over New Scam