1. The regulatory framework of banking in Australia provides multiple layers of legal protection to customers. From 2009, after the Global Financial Crisis, the Australian government created new laws that provide additional legal protection to the customers of banks. In light of these reforms, how does Australia's system of banking regulation protect customers? Explain the effectiveness of these protections with reference to at least three specific examples to support your arguments. Refer also to relevant methods of regulation, laws and regulators.
2. The Global Financial Crisis is a crisis with its origins in the banking system in the United States. It was the result of high risk conduct and a corresponding lack of regulation. Explain the key factors in the banking and finance industry that led to the Global Financial Crisis. Include an assessment of the purpose of regulation your answer and explain whether government regulation of banking is necessary.
3. The 'business of banking' is a concept that evolves in response to law, industry innovation and the economy. Using cases, legislation and contemporary banking practice, explain what you think are the key elements of the business of banking.