Turnbull Calls for Aussie Bank Inquiry

The transcript discusses the inquiry into the Australian finance industry, initiated by the banks to rebuild public trust amid political uncertainty. It compares the underperformance of Australian banks with global peers and highlights the political dynamics influencing the inquiry. The potential risks and implications of a Royal Commission are explored, including the exposure of internal issues. However, the inquiry could also offer banks a chance to demonstrate reforms and restore public confidence.

What changes do the banks believe they have made to improve their operations?

In what ways might the inquiry help banks to restore public confidence?