The culture in the retail banks has led to catastrophic failings in the treatment of customers affected by the tracker mortgage scandal, which has done further lasting damage to the reputation of the Irish banking sector. Globally, there is evidence of cultural failings across the financial services sector, be it Wells Fargo, the LIBOR scandal, RBS, PPI and so on.
Moreover, at an individual firm level, I have seen too many examples where regulated firms are having to be pushed too hard by the regulator to address failings and remediate issues, where the focus is on the letter of the law and not the desirable outcome.