CBA's litany of lapses and misconduct "is completely unacceptable", the bank's CEO Matthew Comyn said on Friday."We became complacent. Our capability has been inadequate in critical areas, particularly operational risk and compliance. "We have under-invested in prevention, even though we have invested significantly in customer remediation," Comyn said at a now six-monthly appearance before the House of Representatives Standing Committee on Economics on Friday.At Commonwealth Bank it is the humiliating report of the John Laker-led panel that defines the bank's make-good roadmap, rather than the dour report of Ken Hayne's royal commission in the industry."We are implementing the recommendations in full and reporting to the regulator on our progress," Comyn assured MPs, pointing out that "an independent expert, Promontory, reviews our progress on a quarterly basis."In the Q&A, Comyn soon conceded that trust in CBA "has been damaged, and that's of enormous concern to us".The CBA CEO said the bank worked "through a very clear accountability mapping exercise" for its top 90 executives, "with A$100 million of financial consequences for" this elite group."The vast majority of these failures are failures that should be attributed to the most senior executives inside the organisation," Comyn conceded, then defended the rank and file. "The vast majority of our people who serve our customers in the Commonwealth Bank have had absolutely nothing to do with the failures here," he said.Badgered from the Labor side, Comyn took institutional responsibility."I think many elements in these failures are inexcusable. We did as an organisation become complacent. As I said, we made too many mistakes. "We were too slow to acknowledge and, particularly, to get to the root cause of those mistakes. We should have taken more preventive action and we should have recognised, as you said, some of the red flags that were visible."Matt Keogh, a WA Labor MP, probed for admissions around the now decade-long rows over the prudence or fairness of CBA's handling of Bankwest business borrowers following the rescue of the latter in late 2008."It's important for a bank, as we've seen from overseas experiences, not to miscategorise loans as performing when they are not performing," deputy CEO David Cohen insisted. "It is crucial for a bank to ensure that it is carrying the appropriate amount of capital in respect of the loans that it has on its books at that time," he said. "Project Magellan was an exercise to review the status of each loan to fullyunderstand the health of the loan. Through understanding the health of the loan, we could then make a proper calculation of the provision that we should hold for that loan."Cohen explained that "the importance of the provision calculation was twofold. The first was to ensure that we held an appropriate amount of capital in order to protect customers of the bank, generally, and the second was to ensure that the financial statements of both Bankwest and Commonwealth Bank were accurate."