As major banks scramble to repair the damage and remediate customers in the wake of the Hayne royal commission, the Australian Banking Association is to announce a sweeping overhaul of the banking code of conduct today.ABA chief executive Anna Bligh said the changes would address the 'fees for no service' scandal by changing the way financial institutions manage a customer's estate when they have died. Bligh, who has described the royal commission's observations as "a day of shame' for the banking sector, is also expected to announce the ABA will seek new legislation to abolish grandfathered payments and trailing commissions.It is expected to call for amendments to the Future of Financial Advice (FOFA) reforms to force an industry-wide removal of provisions allowing grandfathered payments and trailing commissions.