Australian banks unveil reforms in wake of scandals
Sydney
AUSTRALIA's biggest banks on Thursday promised unprecedented reforms to protect consumers and boost transparency following revelations of misconduct and ahead of a federal election set to be fought partly over calls for tougher sector oversight.
The package includes reviewing product sales commissions, supporting whistle-blower employees and removing individuals from the industry for poor conduct, the Australian Bankers Association (ABA) said in a statement.
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