BANK COMMISSION OF INQUIRY:
* To be known as the Banking, Insurance, Superannuation and Financial Services Commission of Inquiry.
* Powers of a royal commission.
* Three commissioners: a former judge, bank expert and community representative.
* Whistleblower protections will apply.
Will examine:
* Unethical and unlawful conduct in the sector.
* Whether regulators and laws are effective and proper dispute resolution process are in place.
* Whether the system is failing to help businesses grow.
* Whether an independent body should administer the code of banking practice, and the code be made mandatory and enforceable.
* The administration of business and farming loans.
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