Banks’ dirt files opened
Confidential documents released by the royal commission into banking blow the lid on a decade of drug and drunk employees, sexual harassment and fraudulent behaviour at some of our biggest lenders.
The 10 years of bad deeds were included in a dump of 215 submissions by the nation’s biggest financial institutions to the year-long Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
The secret submissions were made in January and triggered many of the commission’s further investigations. Revelations include the Commonwealth Bank detailing several sexual harassment cases, and a staff member often returning “to the office visibly intoxicated”. ANZ said some staff looked up the personal financial details of people they knew in 35 instances. In another case, an employee was sacked after falsifying more than 100 loan applications.
National Australia Bank acknowledged problems with its debt collection practices, including sending letters to customers under the names “Fairhalsen Collections” and “Brunswick Collection Services”, creating the impression the debt had been on-sold.
Airing the list of wrongdoing sets the scene for royal commission chief Kenneth Hayne and his lawyers to turn the blowtorch on to the bank bosses, at the next round of public hearings starting on November 19.