Australians want a royal commission into the banks

Labor's call for a banking royal commission may have well and truly hit the right chord with the mass market of voters.

The Financial Review cited UMR findings that showed 45 per cent of people have a negative attitude towards banks.

The Labor proposal for a banking royal commission would focus on misconduct but could ‘wander off’ as a versatile star chamber reconsidering innumerable private grievances against banks by aggrieved borrowers including the recent scandals involving Bankwest, Wilmot Forests, Timbercorp, Great Southern and Storm Financial.

Source: Banking Day