Banking Royal Commission

ATM on a grey background - banking royal commission lead image

We use banks every day. Paying for groceries. Saving for a home. But a royal commission has shown banks don’t always treat us fairly.

Let’s fix the banks for good. We think banks should put our interests first, not just their own.

Once the royal commission hands down its initial findings at the end of this year, the government will need to step in and fix our laws. This will only happen if people like us push our leaders to fix the banking system for good.

Three of almost 3000 stories people shared with us.

“Our adviser took $160K. We lost everything” – Becky*, Bad financial advice

“My son was sent bankrupt by irresponsible lending” – Hugh*, Personal loans

“We were left sleeping in squalor by claim denial” – Jasmin*, Insurance

Fines that fit the crime
…when a corporation breaks the rules

Compensation for victims
…people hurt by banks’ behaviour

Banks acting in our interests
…not just their own

More power for ASIC
…our banking umpire

CHOICE has been in there from day one of the royal commission, fighting for consumers like you.

We’ve won a huge increase in penalties for banks and other financial institutions that do the wrong thing.

After dozens of high-profile banking scandals in Australia, people pushed our politicians for a formal inquiry – a royal commission.

Its full title’s a mouthful: the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

But its aims are to investigate poor conduct in the industry and put forward solutions to help make the system work better for all Australians.

14 December 2017
Royal commission called – CHOICE invited to report on people’s experiences with financial services.

January 2018
CHOICE makes its report – We share almost 3000 people’s stories with the commission.

13 March 2018
First public hearings begin – We put forward solutions to fix banks’ irresponsible lending.

September 2018
Commission’s initial findings – Time to pressure our politicians.

February 2019
Commission makes final report – Time to step up our campaign.