SYDNEY: The chairman of National Australia Bank Ltd (NAB) said at an inquiry into sector misconduct that it would take a decade to fix the profiteering culture that has shredded the reputation of the lender and the broader financial industry.
Damaging revelations of bribery, fraud, the charging of fees for no service and from the accounts of deceased people, as well as board-level deception of regulators have roiled Australia’s financial sector since the explosive inquiry began in February.
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