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Labor MP calls for Prime Minister to apologise over Royal Commission resistance

Acting Shadow Treasurer Jim Chalmers is calling on Prime Minister Malcolm Turnbull to apologise for resisting a Royal Commission into our banks for so long.

The revelations emerging from the Royal Commission continue to be shocking, and Dr Chalmers says there’s now a rush to back the commission.

“Whether it’s him [Malcolm Turnbull]… Scott Morrison, they’re all clamouring over each other now to pretend that they were always in favour of it.

“Scott Morrison described it as a populist whinge.

“Malcolm Turnbull even when he was announcing… the Royal Commission, he said it was regrettable.”

The focus of the commission today was on the Commonwealth Bank and what it did to its clients, in particular continuing to charge clients who had already died.

A 2015 document from a CBA subsidiary found advisers were charging on-going service fees after their clients had passed away.

Dr Chalmers says the “appalling revelations” coming to light are part of a pattern.

“We need to get to the bottom of it on behalf of all of the people in the broader Australian community who have been subjected to these sorts of rorts and rip-offs.”

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CBA admits to charging dead clients for financial advice