The Bull

Wednesday 20

March, 2019 2:28 PM

Banks need more commission time: Shorten

Banks need more commission time: Shorten

Bill Shorten says the royal commission needs to spend more time looking at the big banks, which he says have not been scrutinised enough.

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By AAP 02.05.2018 11:52 AM

Shocking evidence of misbehaviour has Bill Shorten worried the banking royal commission hasn't had enough time to look at the big banks.

He wants the royal commission to have enough time to make sure all whistleblowers and victims of financial abuse at the hands of the banks are heard.

"Part of the problem I see is this royal commission, while it's done a great job, hasn't had very long to look at the banks," Mr Shorten told reporters in Sydney on Wednesday.

"The NAB was in there for less than a day. Commonwealth Bank wasn't in there for very long.

"In a matter of days we're meant to cover all of the issues in the financial services sector."

The royal commission was originally given a year to examine the industry, but senior government ministers have said it could be extended after damning evidence has been uncovered.

"A lot of what we're seeing is what has been self-reported by the banks when they found they had to go into the witness dock," Mr Shorten said.

"But I worry about the stuff we're not seeing and some of the matters which we know have happened are not getting full coverage in the royal commission.

"I'm concerned that whistleblowers and the victims haven't had enough say."

An interim report is due by September 30 while the final report will be handed down by February 1, 2019.

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