At least something good came from the Banking Royal Commission, with the recommendation of criminal charges against three financial institutions, and the need to investigate 15 more, which is some indication of what has been going on:
https://www.theaustralian.com.au/business/banking-royal-commission/banking-royal-commission-bank-greed-deemed-criminal-as-charges-recommended/news-story/cadc6e61339f943c81b3ba60663b4160?utm_source=The%20Australian&utm_medium=email&utm_campaign=editorial&utm_content=TodaySHeadlines
“Kenneth Hayne has recommended criminal charges against three financial institutions and asked for investigations into 15 more in a final -report that sets up an election ¬battle between the Morrison government and Labor over which party can be tougher on the banks. The royal commissioner made 76 recommendations involving sweeping changes to laws governing the ¬financial industry in a bid to put an end to misconduct uncovered by the royal commission that included institutions charging dead people fees, banks turfing hundreds of farmers from their land and selling unwanted funeral ¬insurance to a man with Down syndrome. The royal commission heard explosive revelations that some of Australia’s largest financial institutions repeatedly lied to regu¬lators and charged fees where no service was provided, a practice that has left them exposed to a possible compensation bill of up to $2 billion Josh Frydenberg yesterday declared that the banks had been “driven by greed”. “From today, the banking sector must change. And change forever,’’ he said.