Millions of bank customers have got money back but for others, the wait continues

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It has been one year since the banking royal commission dragged the chief executives of the big four into the witness box, but for many customers who were ripped off, the pain is not a thing of the past.

This latest scandal comes as the banks continue to pay the price for past misconduct.

Another $5 billion in remediation is expected to flow soon, as the banks also spend hundreds of millions of dollars on new systems to fix old problems and prevent new ones.fees-for-no-service scandalMr Elliott told the House of Representatives Economics Committee he had received $137 in repayments for money his own bank unlawfully took from his accounts.

Tim Wilson MP: Just to clarify, you're the CEO of this bank, and you got three letters from yourself saying 'I took three amounts of money'?Farmer's five-year, 40,000km fight with NABHe claims he was mis-sold unsuitable products and fleeced by interest linked to"Did the whole job on me with receivership and everything else, gutted our family, destroyed my marriage," Mr Mott said.

"Since [then] we've done forensic analysis of our accounts, they were gouging with interests and false charges. A lot of conduct, bad banking conduct.

 

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