The Commission on Banking Standards says excessive pay practices and rewards for failure must be stamped out.
Senior bankers who are guilty of reckless misconduct could be jailed under recommendations in a major report.
The Parliamentary Commission on Banking Standards was set up by the Government to look at the sector.
It's also proposing regulators get powers to cancel the pay and pensions of executives at banks which need taxpayer support.
Charles Middleton who's Managing Director of ethical bank Triodos, and a Christian has told Premier's News Hour why he's supporting the report:
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