TAKE IT TO THE BANKS

Labor has called for a government-led compensation scheme for victims of banking misconduct in the face of a damning fortnight at the financial services royal commission and an unrepentant Coalition ministry.

The Guardian reports that within hours of Financial Services Minister Kelly O’Dwyer refusing to acknowledge the government’s flip-flop on the inquiry Opposition Leader Bill Shorten wrote to Prime Minister Malcolm Turnbull to demand an extension to the royal commission, an apology for the Coalition’s delay, and a compensation scheme “for the victims of proven wrongdoing”.