Each week The Front Page takes you behind the scenes of the biggest story from the New Zealand Herald and Newstalk ZB. Today it's how ANZ got into trouble, and how worried we should be about it. Hosted by Frances Cook.

ANZ is in hot water lately, with its CEO departing under a cloud.

There are questions over how much he enjoyed perks he wasn't entitled to, like filing expenses for wine storage and travel, as well as a strange house sale.

There are also issues around whether the bank was operating properly, with the Reserve Bank pulling ANZ's accreditation to run its own operational risk capital requirements back in May.

It comes at a time of low trust for the banking sector generally, with a Royal Commission finding disturbing things in Australia.

There has been a conduct and culture review here in NZ, but some are now calling for our own Royal Commission.

Herald business editor at large Liam Dann has been keeping a watchful eye on the saga, and came on the Front Page podcast to unravel the confusion.

We discussed how the controversy could change the banking sector, whether there's a crisis of public confidence, and whether more heads will roll.

If you have questions about Herald investigations, or want to stay up to date on social media, you can find host Frances Cook on Facebook here https://www.facebook.com/FrancesCookJournalist/ Instagram here https://www.instagram.com/francescooknz/ and Twitter here https://twitter.com/FrancesCook