COVER STORY Commissioner Hayne offers banking stimulus*

In his three-volume report on misconduct in the financial services industry, Royal Commissioner Kenneth Hayne repeatedly pointed to a failure in the banks’ culture as a reason for misconduct that included premature bank foreclosures, selling financial services that were clearly unnecessary, taking money from the accounts of deceased customers, and not providing financial services for which customers had paid.



In his examination of the scandal of banks charging custom…

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