Inquiry turns its focus to rural lending and is urged to investigate receivers’ role

The banking royal commission has heard revelations that Bendigo and Adelaide Bank’s Rural Bank failed to investigate episodes of fraud and charged incorrect fees on overdrafts for farming customers.

It has also heard claims receivers have driven a “massive destruction of value” across Australia’s agricultural sector in recent years by repeatedly failing to sell repossessed farm assets for market value.

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Read More Banking inquiry hears Rural Bank underpaid interest and overcharged fees

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