Originally posted on 4 February 2020
It’s 12 months today since the Banking Royal Commission findings were tabled in the Federal Parliament.
The Coalition Government promised to implement all the recommendations within 12 months but has so far introduced legislation for 25-50%.
The financial services sector will certainly not get away with ‘fees for no services’ and other rorts any time soon and there appears to be a new regard for the interests of customers but it remains to be seen whether the sector returns to old, more profitable ways. Much will depend on the Government’s resolve.
