Labor has rebuffed an offer from the Greens to carve out smaller banks from its proposal to levy $1.1 million fines against law-breaking executives.
Treasurer Jim Chalmers says Labor’s aborted attempt on Thursday to levy the $1.1 million fines has not damaged the party’s relationship with big business.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
James Eyers writes on banking, finance, payments, regulation and emerging technologies. Based in Sydney, he is a former legal and investment banking editor at the AFR and has been a business journalist for more than 20 years. Email James at jeyers@afr.com.au
Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com
