BUNCH OF BANKERS
Members across the political, legal and financial sectors have slammed revelations over AMP and Commonwealth Bank (CBA) at the banking royal commission, with the once-unconcerned Treasurer Scott Morrison now floating potential jail time for financial planners found to have ripped off clients or misled the corporate regulator.
The Australian ($) reports how senior CBA executives admitted the bank would be a “gold medalist” in terms of charging fees for no service and had internal systems “so hopeless CBA had no idea what was going on in its business”. During the grilling, commissioner Kenneth Hayne slammed the executives for delivering non-answers.
Finally, former Australian Competition and Consumer Commission chairman Allan Fels has told The Sydney Morning Herald that, following both CBA’s and AMP’s revelations, the royal commission should consider separating the banks from their financial planning businesses entirely.
Slomo is apparently showing some interest all of a sudden after the libtards referred to banks as pillars of the community
Deary deary me if Labor hadn't of forced their hand nothing would've happened at all , I still think Bill needs to call another RC with broader terms of reference to snare these grubby phukn libtards that will surely have their mits all over it .