New on this site so please excuse for repeating what may be have...

New on this site so please excuse for repeating what may be have already been said some time ago.

As an ex finance industry manager I empathize with the bank staff of today. The few that I still know have very negative views about their future and what is currently being said about them. The Senate enquiry, the Royal Commission and various other authorities and regulators are both pushing them and pulling them to jump thru more hoops and higher hurdles - they are damned if they do and damned if they don't - they are also political pawns. The point about checking on applicant's spending made by the ANZ and NAB CEOs is absolutely legitimate. Nobody can thoroughly check an applicant's spending. As an ex collection manager I often found that client arrears were caused by excessive spending on drugs,drinking and gambling and any credit officer who can get an applicant to admit to that during an application interview should be quickly promoted. There is an element of punt in every application approval and banks cannot be held to account for them all. There is no doubt that some of the matters brought before the authorities should have either not happened or been dealt with in a more efficient and compassionate manner. The banks know they have to fix these but it is poor policy to create an atmosphere in the finance world which begins to create economic problems within our nation and develops confusion and frustration for those in the industry trying to negotiate their way thru the criticisms being leveled at them.