The House of Representatives Standing Committee on Economics has commenced a review of Australia’s four major banks with public hearings to be held in Canberra next week with the CEOs of ANZ, Commonwealth Bank, National Australia Bank and Westpac.
Committee Chair, the Hon Ed Husic MP, said ‘these hearings play an important part in opening up to public view the way the major banks operate in Australia.’
‘At a time when households and businesses across the country continue to embrace digital pathways for their banking and payment services, the committee will look at how major banks are balancing the interests of their customers and stakeholders.’
Mr Husic added, ‘The committee is keen to hear how the four banks are managing current and emerging risks, especially the threats posed by scams, fraud and new technologies.’
He continued, ‘With banks increasingly deploying artificial intelligence and emerging technologies to transform and support their operations, the Committee has – for the first time – made these areas a specific focus within the review’s terms of reference.’
Through its hearings, the committee will examine matters related to:
- interest rates on deposits and loans, the financial position of borrowers and the role of banks in supporting the flow of credit to households and small businesses;
- impacts of proposed changes to surcharging, interchange caps and fee transparency;
- how the banks interact with customers;
- how banks are using artificial intelligence and other emerging technologies;
- actions taken to protect customers from scams;
- service delivery and operational performance, including access to banking in regional, rural and remote areas;
- responses to climate change and support of Australia’s climate and sustainability goals; and
- the ongoing implementation of recommendations of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
Programs for the hearings and the full terms of reference for the inquiry are available on the committee’s webpage.
This inquiry is not open to submissions.
Public hearing details:
Location (both days): Committee Room 2R1, Parliament House, Canberra
Date: Tuesday 18 November 2025
Time: 9:15 am to 5:00 pm AEDT
Banks: Commonwealth Bank of Australia and Westpac Group
Date: Wednesday 19 November 2025
Time: 9:15 am to 5:00 pm AEDT
Banks: Australia and New Zealand Banking Group Limited and National Australia Bank
The hearings will be broadcast live at aph.gov.au/live
Media enquiries:
Adelaide Hayes
Office of Hon Ed Husic MP
Mobile: 0474 647 712
Parliament: (02) 6277 4108
For background information:
Committee Secretariat
02 6277 4587
[email protected]
https://aph.gov.au/economics
