Commonwealth Bank chairman Catherine Livingstone became the first big bank chair to front the banking royal commission.
She detailed how the board missed early red flags about the bank's poor compliance with anti-money laundering laws.
Earlier, Commonwealth Bank boss Matt Comyn told the hearing there was a widely-held view within the bank that it was doing a "good job" of complying with AUSTRAC requirements.
See how the day's evidence unfolded on the blog.
