Slater and Gordon is calling on the big banks to show they have truly turned over a new leaf by introducing a formal process of structured remediation, through which independent advice is provided to customers who may be entitled to compensation.
The process would involve a qualified, independent third party being engaged by the banks to help aggrieved customers understand what happened to their money, what their rights are, and what a just way forward would entail.
Slater and Gordon chief executive John Somerville says as the dust settles on the banking Royal Commission it was critical for the issue of remediation to not be swept under the rug.