Opposition Leader Bill Shorten has confirmed Labor will undertake a Royal Commission into banking malfeasance if elected in a speech at the National Press Club:
“Australia has one of the strongest banking sectors in the world and we want to keep it strong, but public confidence in the banking and financial services industry has taken hit after hit over the previous few years.
Many Australians have suffered through the decisions of banks and financial institutions. Retirees who have lost their retirement savings, small businesses who have lost their livelihood, Australian families who have lost hundreds of thousands of dollars, life insurance beneficiaries, denied justice and legitimate claims.
There are literally tens of thousands of victims if not more. And today I say enough is enough. This string of scandals has to stop.
Get out of the way do-nothing Malcolm.
