Banks to answer for Hayne report

The chief executives of Australia's big four banks will head to Canberra to face questioning over the findings published in Commissioner Kenneth Hayne's interim report.

The House of Representatives Standing Committee on Economics will commence its next round of public hearings on October 11, 12 and 19.

The hearings will provide an important opportunity to scrutinise the bank chiefs following the Royal Commission, committee chair Tim Wilson said.

"Commissioner Hayne's interim report identified incentives in banks against the interest of customers that has led to appalling conduct contrary to law," he said.

"Yet, this misconduct has either gone unpunished, or the consequences have not met the seriousness of what has occurred and must be addressed."

Commonwealth Bank and Westpac will face the committee this Thursday; ANZ will face questioning on Friday; and NAB is set to appear the following Friday.

"These hearings will also be an important opportunity to follow up on unresolved issues from earlier hearings; and to consider how best to ensure appalling behaviour is not repeated without inhibiting the banks' essential contribution to grease our economy," Wilson said.

Read more: Kenneth HayneTim WilsonANZCommonwealth BankNABRoyal CommissionWestpac
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