WHO'S MENTIONED IN INTERIM REPORT?
* ASIC (607 mentions)
Report found the conduct regulator "rarely went to court to seek public denunciation of and punishment for misconduct".
* CBA (510 mentions)
The bank acknowledged it had "engaged in misconduct in limited respects". Report said: "Neither CBA nor NAB could readily identify how, or to what extent, the entity as a whole was failing to comply with the law."
* NAB (309 mentions)
Acknowledged it had "engaged in misconduct and conduct falling below community standards and expectations in relation to home lending, credit cards, personal loans and processing or administration errors".Was unable to provide a "single, reasonably comprehensive and accurate picture of whether and how it had failed to comply with applicable financial services laws". Looked at events as the "aberrant behaviour of individuals" rather than examine deeper causes and connections.
* ANZ (277 mentions)
Acknowledged to the inquiry it had "engaged in misconduct and conduct falling short of community standards and expectations" in connection with home loans, credit cards, processing errors and car finance. Report said: "On their face, ANZ's responses appeared to be detailed and comprehensive."
* WESTPAC (192 mentions)
Acknowledged that across its brands (Westpac, St George Bank, Bank of Melbourne, Bank of South Australia and RAMS) it had "engaged in actual or potential misconduct and conduct falling below community standards and expectations" relating to home lending, credit cards, car loans, add-on insurance, processing or administration errors and unsolicited offers of credit". Also admitted there could be more examples.
(Source: Volume 1, Interim Report, Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry)
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