For years the banks and financial institutions of Australia rorted the system.
The blatantly ripped off their customers, with little regard to their wellbeing.
Even the dead weren’t safe from the ill practices of the banks.
For years the banks acted as if they were invincible, untouchable.
Banks must face consequences
They now claim they know they’re not above the law, but prior to the Hayne Royal Commission, you’d be led to believe that that’s exactly what they thought.
Those that have participated in the malpractice of their customers, banks and employees, should ‘face the consequences’. However, representatives for the sector haven’t ruled using shareholder funds to support their defences.
Banks not above the law
Monday, 4.10pm is when the public will become privy to the final royal commission report.
Australian Banking Association head Anna Bligh said that the industry and the system are aware that they are not above the law. But each individual is eligible to a defence, AAP reports.
When asked if the bankers would pay for their own legal defence, she told ABC Radio’s AM:
‘I would assume that every institution, whether that’s a bank or an insurance company or anyone else, will be looking to make sure that people get the defence that they’re entitled to. That’s the nature of our criminal justice system in this country’.
Free Report: Phil Anderson reveals a virtually unknown, monarchy inspired income stream that he believes could financially benefit every tax paying Aussie citizen for the next 100 years.