Trust shaken by bank scandals: RBA

One of Australia’s top banking regulators says that recent global bank scandals ranging from the Barclay’s Libor affair to Wall Street bank JP Morgan uncovering billions of dollars in trading losses has further undermined “the bond of trust” between banks and the community.

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A bunch of scaredy-cat lenders

…She’d been trying to for weeks but was meeting resistance that she wasn’t used to. Organising loan facilities for her telecommunications company had only ever involved a series of simple steps. But like many small to medium business owners today, she was facing that Great Wall of Finance, constructed post-global financial crisis, which had made money too tight to mention….

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