All four of Australia's big banks have appeared before a federal three-day inquiry into the banking system, plagued for years by financial scandals and accusations of misconduct.
The heads of all four banks have issued apologies but have rejected any claims there are widespread cultural problems within the banking institutions.
The Federal Government has promised significant cultural change as a result of the first annual parliamentary inquiry into the banking system
But as ... reports, it is not yet clear if the exercise will have the desired result.
The government's three-day inquiry into the banking system has come to an end, with the chiefs of the nation's big four banks all appearing before the committee offering apologies.
The final two to appear on Thursday (6th October) were N-A-B chief Andrew Thorburn and Westpac's Brian Hartzer.
Mr Thorburn, who spoke of "mistakes we cannot be proud of," told the committee he has apologised to customers affected by his bank's financial-advice department.
He says he is a proud banker, but he acknowledges the banks have had problems in recent years.
Westpac's Brian Hartzer, who told the committee his bank was not perfect, says the banking industry needs to do more to woo back public opinion.
The pair followed on from the Commonwealth Bank and ANZ chief executives, who told a very similar story.
All four banks have been bedevilled by scandals, fee overcharges and financial-advice failures, and some have suffered from fraudulent behaviour by staff.
All four have had to remunerate thousands of customers.
Yet, based on the evidence given to the inquiry, very few people have lost their jobs as a consequence of the banks' negligence.
Labor and the Greens have criticised the inquiry as an attempt by Prime Minister Malcolm Turnbull's Government to appease the public while pandering to the banks.
Labor says the allocation of just three hours per chief executive is simply a political fix.
It says genuine, useful questioning of the executives requires days, not hours.
Opposition Leader Bill Shorten says the hearings have achieved nothing.
The Government says a royal commission would achieve nothing.
It says the banking inquiries will be held each year and, in addition, it wants to set up a banking tribunal with strong judicial powers.
The details of such a tribunal will be decided next year after Professor Ian Ramsay hands the Government his advice on establishing it.
Financial Services Minister Kelly O'Dwyer has told the A-B-C she believes it would provide a quick and fair way for Australians to resolve complaints.
Released from questioning for another 12 months, N-A-B chief executive Andrew Thorburn thanked the committee.
Speaking for the N-A-B and, presumably, his other banking counterparts, Mr Thorburn summed up his view of the banking industry and those who work in it.
Cultural change could take a while, though.
Malcolm Turnbull has suggested it could take years for the parliamentary-committee grillings to change the thinking of Australian banks.
