It’s becoming increasingly obvious that the banks cannot, or will not, clean up their act.
With tens of thousands of Australians affected, and the regulators failing in their duties, there really is no choice but to have a royal commission, as I suggested in my submission to the Murray Inquiry.
The last time we had one was in 1937 and the last prime minister who really understood the problems with banking was Ben Chifley.
He once said: “It has been said that I hate the banks. The only things I hate are want, misery and insecurity of any people in any country.”
Many have suffered at the hands of poor banking behaviour.
When will we see Canberra finally fix this?
Independent candidate for the Senate