As the royal commission into misconduct into the financial sector finally gets under way, Labor has been quick to remind aggrieved bank customers this could have been in full swing 18 months ago.
Shadow treasurer Chris Bowen said Prime Minister Malcolm Turnbull allowed the "rorts and ripoffs" to continue until he finally backflipped.
"The focus must now turn to the victims of banking and financial scandals," Mr Bowen said in a statement on Monday.
"This is an opportunity for those who have suffered because of insurance scams, dodgy lending and fee rip-offs to tell their stories and present their evidence to the commission."
But One Nation leader Pauline Hanson expects it will be a "whitewash".
"I don't think it will get to the real problems of what's happening," she told reporters, adding many farmers had lost their properties because of the banks.
Greens senator Peter Whish-Wilson said if there is a perception of a whitewash, it will lead to more outrage and calls for further scrutiny.
"Let's get this right this time around: for the financial system, for the victims and for the Australian public," he said in a statement.
Nationals senator John Williams hopes any confidentiality clause that victims may have signed as a result of a settlement over a dispute with a bank will be waived by institutions.
If not, he believes there should be a Senate inquiry running parallel to the royal commission, whereby people give information covered by parliamentary privilege which would then be fed back to the commission.
The initial public hearing into The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry Source: AAP
"That's one way of getting around it. I hope that doesn't happen," he told Sky News.
Commissioner Kenneth Hayne QC on Monday warned financial institutions not to take legal action against whistleblowers or customers who break confidentiality agreements by providing information to the inquiry.
The major banks say they will not enforce confidentiality obligations if customers make submissions.
Asked if the commission could be granted extra time to ensure all victims who have made a submission could front a hearing, Finance Minister Mathias Cormann said the government would consider the request.
"The royal commission should be allowed to do its job," he told Senate question time, adding that it was only day one.
Mr Hayne said the commission will not have time to publicly examine every case of alleged misconduct.
