Royal commissioner Kenneth Hayne QC's final report will recommend substantial changes across the banking, superannuation and financial services industry to prevent a repeat of widespread misconduct he blamed on greed.

The report, to be released on Monday, will focus on ensuring money is lent to consumers responsibly, customer remediation, regulation and the remuneration of bank staff including executives, brokers and financial advisers.

Financial Rights Legal Centre co-ordinator Karen Cox said there needed to be more legal protections for consumers, particularly given the complexity of financial services.

"At the end of the day what we'd really like is for our financial services providers to actually look after their customers and to make a profit where it's reasonable from providing services that people actually benefit from, not from gouging their customers," Ms Cox said.

"If they can come up with a magic formula that can make that happen that would be a wonderful thing."

Consumer Action Law Centre CEO Gerard Brody said there should be greater rights for individuals when money is lent irresponsibly, pointing to examples involving car finance and credit cards, along with overdrafts in indigenous communities, that had created a lot of hardship.

He said customers might be able to get fees and interest waived but they still had to pay back the loan.

Ms Cox said one way to address a lack of compliance with responsible lending regulations was to set clearer outcomes for the people affected by it.

"I don't expect anyone to get a free house but for there to be some forgiveness of debt as part of the remedy I think would help in terms of providing an incentive for lenders to actually comply," she said.

"Clearly expecting the regulator to be the cop on every single block in town is never going to be enough. We really need to get the incentives right."

Banks have already tightened lending standards in response to the year-long inquiry and regulator measures, but the final report is expected to lead to further restrictions in the availability of credit with banks expected to do more to verify customers' financial situations.

Consumer advocates want loopholes and exemptions in the laws filled and fixed, such as the life insurance carve-out from banned commissions for advisers.

Ms Cox wants action over the sale of "junk" insurance products such as funeral and accident cover.

"We see client after client who have policies that in a lot of circumstances are very bad value, sometimes completely useless to them, and these are often people who struggle to put food on their table and yet they're paying for pointless financial products."

Australian Associated Press