House Economics Committee to scrutinise smaller banks

THE House Economics Committee will scrutinise Macquarie, Bendigo and Adelaide Bank, Bank of Queensland, Suncorp, Citi, and the Australian Banking Association at a public hearing in Canberra on November 29, 2019.

The chair of the committee, Tim Wilson MP, said, "These hearings are an important mechanism for the Parliament to publicly scrutinise and hold Australia’s banking sector to account.

"This will be the first time small banks appear before our Inquiry, whereas the big four appeared throughout the whole of the last Parliament.

"The committee’s scrutiny will include examining the banks’ progress in implementing the recommendations of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry," Mr Wilson said.

"Given widespread misconduct in banking and financial services identified by the Hayne Royal Commission, it is important that the smaller banks and the Australian Banking Association are held accountable to ensure that they are making the crucial improvements needed to restore trust in the sector."

Public hearing details

Date: Friday, 29 November 2019
Time: 9.15am to 4.30pm
Location: Main Committee Room, Parliament House, Canberra

9.15am – Australian Banking Association
10.15am – Break
10.30am – Macquarie Group
11.30am – Bendigo and Adelaide Bank
12.30pm – Break
1.30pm – Bank of Queensland
2.30pm – Suncorp
3.30pm – Citi Australia
4.30pm – Close

The hearings will be broadcast live at aph.gov.au/live.

ends