Greed the main reason for bank misconduct, royal commission finds

An interim report from the banking royal commission has found misconduct by financial institutions has been driven by greed. Commissioner Kenneth Hayne says many institutions put profits before people.

Government seeks restoring public trust in the financial system Source: AAP

An interim report from the banking royal commission has found misconduct by financial institutions has been driven by greed.

Commissioner Kenneth Hayne says many institutions put profits before people.

He also says poor behaviour often went unpunished or the consequences did not meet the seriousness of what had been done.

Treasurer Josh Frydenberg says this type of conduct is unacceptable.