Labor has proposed a new plan that would force banks and financial regulators to report every six months on their progress fixing cultural problems exposed by the royal commision.
Bill Shorten says only Labor can be trusted to clean up the banks, adding he would make banking execs front up to parliament and explain what they’re doing to clean up their act.
Scott Morrison says the Coalition won’t engage in reckless legislation, but is responding to all 76 royal commission recommendations in a measured way, and consulting to ensure there are no unintended consequences.