NAB Should Look for CEO Outside Australia, Lecturer Grant Says

The transcript discusses the Royal Commission's findings on Australian banks, focusing on the lack of contrition shown by Ken Henry and Andrew Thorburn towards Commissioner Hayne. It highlights criticism of CBA for not choosing an external replacement and NAB's poor behavior. The discussion extends to financial literacy issues in Australia, dominated by the big four banks, and the challenges of balancing consumer interests with bank profits. The transcript suggests a need for banks to listen to public demands and improve their treatment of customers.

What was a major criticism of Ken Henry and Andrew Thorburn during the Royal Commission?

• They were praised for their transparency.

• They were overly compliant with the Commission's demands.

• They failed to show enough contrition.

• They showed too much respect to Commissioner Hayne.

Why is financial literacy a concern in Australia according to the transcript?

• There are too many banking options available.

• The public is well-informed about financial options.

• The big four banks hold a small percentage of assets.

• Many people are unaware of their financial standing and options.

What did the Royal Commission highlight about NAB's behavior?

• NAB was not mentioned in the Royal Commission.

• NAB was found to be the most compliant bank.

• NAB was singled out for behaving the worst.

• NAB was praised for its customer service.

What is a challenge in balancing consumer interests and bank profits post-Royal Commission?

• Ensuring banks make no profits.

• Focusing solely on shareholder profits.

• Balancing consumer protection with strong bank profits.

• Ignoring the Royal Commission's findings.

What policy contributes to the perceived infallibility of Australian banks?

• The two-pillar policy.

• The four-pillar policy.

• The no-pillar policy.

• The single-pillar policy.