Ann: 2020 Full Year Results Investor Presentation, page-18

Globally, the pressure on the financial system, better regulation, more consumer rights and better executive performance on governance, risk and compliance may see the collapse of banking structures not up to the demands of Biden’s consumer rights.

NAB, along with CBA, as the poorest of the majors, is most susceptible to an existential crisis having been saved by the Four Pillars Policy. Anti trust might demand the end of CBA for all its governance failings.

A bank like NAB with its issues now has massive issues in the new era.

McEwen and the NAB Attorneys will now have to have much better governance, risk and compliance.

All the failings of ASIC, APRA and AUSTRAC will now be overturned globally and Australia will have to follow consumer rights, penalties for governance failings and the reality of banking compliance improvements.