Introduction
On 14 December 2017, Prime Minister Turnbull and the Governor General signed the Letters Patent. The next day, Commissioner Hayne required the banks and regulators to provide him with copies of all documents they had in relation to misconduct, and practices that had been below community standards since 2008. Neither the banks nor the regulators provided this information to Commissioner.
When banks’ chairmen and regulators swore to tell the truth, and nothing but the truth, they misled the Royal Commission by concealing Australia’s greatest crimes. It meant that the disputes during the past 5 years could be discussed publicly.
In August 2018, the Senate recommend that the Royal Commission be extended. The recommendations were referred to the Prime Minister and Treasurer but were overturned. Only 27 cases were dealt with by the Commissioner. The cases set out on this site provide evidence of Australia’s greatest crimes.
These cases, which weren’t heard in 2018, are being published here by small businesses and farmers. They provide evidence that the practices of the banks and regulators are more serious than those of Bernie Madoff who, in 2009, was jailed for 150 years and died in jail last year. However, no chief executives of the 8 banks referred to in those cases have yet been prosecuted.
These chief executives and the directors were the Architects of the 2004 Code. They, and regulators, ASIC and APRA, knew about the crimes but did not suspend or cancel their licenses. These 27 stories are unsettling and disturbing.
Year | Complaints received | Not resolved in 5 days | Difficulty requests |
2013/14 | 897,987 | 107,761 | 271,703 |
2014/15 | 1,099,272 | 99,000 | 288,139 |
2015/16 | 1,226,093 | 85,200 | 296,071 |
2016/17 | 1,189,832 | 91,630 | 279,000 |
2017/18 | 1,130,037 | 101,703 | 298,569 |
Total | 5,543,221 | 485,293 | 1,433,482 |
- All
- ANZ
- Bankwest
- Bendigo
- Commonwealth
- NAB
- Predatory Loans
- Rabobank
- Suncorp
- Westpac