National Australia Bank agreed to all of the Royal Commission's recommendations directly relating to the wealth management industry.
Releasing its full response to Commissioner Hayne's 76 suggested changes to Australia's financial services industry, NAB said it disagrees with four banking recommendations.
NAB agreed with all 34 of Hayne's recommendations relating to financial advice, superannuation and insurance, as well as his additional recommendations around regulators, culture and governance.
The bank's recently appointed chair Phil Chronican said Hayne's recommendations would lead to a better industry as organisations change in response.
"The Commission has also rightly challenged NAB to close the gap between where we are today and where we need to be," Chronican said.
"We have to focus on earning back trust and this includes the actions we take in response to the Final Report and other issues we have faced at NAB.
"It includes how we compensate customers when we get it wrong; how we pay our people; how we hold ourselves accountable for running the bank and; how we build a culture that puts customers first every time."
Specifically, the bank disagrees APRA should determine a responsibility within authorised deposit taking institutions for all steps in the design, delivery and maintenance of all products offered to customers. NAB said it already has specific accountable persons responsible for those steps with respect to its products and any remediation that arises from them.
The bank also disagrees with Hayne's recommendation that the ABA amend its definition of small business in the Banking Code to see the code apply to businesses employing less than 100 full-time equivalent employees where the loan applied for is $5 million.
The bank noted it supports the intent to expand the definition of small business, but said it would instead update its definition from aggregate borrowings of less than $3 million to less than $5 million.
Following the Federal Government's decision to allow mortgage brokers to continue collecting trailing commissions earlier this week, NAB said it will work with Treasury's working group to "ensure that the broking industry remains viable, customers have choice and get the best possible outcomes."