Interest charges and scams shall be on the agenda for a listening to into two of Australia’s largest banks.
NAB chief Ross McEwan and ANZ boss Shayne Elliott will seem at a parliamentary economics committee listening to in Canberra on Wednesday.
They shall be adopted by the bosses of Westpac and the Commonwealth Bank on Thursday.
Committee chair Daniel Mulino mentioned the two-day listening to was a well timed alternative to place the highlight on the 4 banks, which management 80 per cent of the Australian market.
“Australian households and small businesses depend on these banks for general banking, mortgages and business loans,” Dr Mulino mentioned.
“It is crucial that our banks are resilient, but also competitive.”
He mentioned in a 12 months characterised by rising rates of interest, financial institution closures and more and more refined scams, the committee would have a look at how the banks had protected themselves and their clients.
Source: www.perthnow.com.au
