WHAT APRA THINKS ABOUT AUSTRALIA'S BIGGEST BANK:
* "CBA's continued financial success dulled the senses of the institution"
* "Senior leadership was slow to recognise, and address, emerging threats to CBA's reputation. The consequences of this slowness were not grasped"
* "A widespread sense of complacency has run through CBA, from the top down"
* "CBA was desensitised to failings with customers"
* "CBA has been reactive - rather than proactive and pre-emptive - in dealing with risks"
* "CBA turned a tin ear to external voices and community expectations about fair treatment"
* "Good intent has been too readily used to excuse poor risk outcomes"
* "Complacency and reactivity led to a sense of 'chronic ease' in CBA."
* "Various failings have culminated in a dilution of the 'voice of risk' and the 'customer voice'"
* "CBA has 'fallen from grace'"
