The recently concluded Australian Royal Commission on Banking Misconduct has called on Australian banks to revise their

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The recently concluded Australian Royal Commission on Banking
Misconduct has called on Australian banks to
revise their conduct when dealing with their customers. In
particular, Commissioner Hayne called on the Big Four
Banks’ to answer for their culture of greed which involves the
“pursuit of short-term profit at the expense of basic
standards of honesty”.
Explain how the current consumer protection law relating to
financial institutions in Australia under Code of
Banking Practice, FSR, ASIC Act and NCCPA creates conduct
obligations that promote ethical behaviour during
contract negotiations between financial service providers and
customers. Also refer to case examples and
applicable remedies.
As part of your conclusion, evaluate some of the recommendation for
change made by the Royal Commission in
light of the above statement.