Big four banks to face parliamentary economics committee

The head of Commonwealth Bank, Ian Narev appeared before a parliamentary committee in Canberra which has been set up in response to calls for a royal commission into the industry. In August, Prime Minister Malcolm Turnbull announced the chief executives of Australia's big four banks will appear before the House of Representatives Economics Committee at least once per year. Labor has dismissed the process as a sham saying it won't get answers to the issues that need to be resolved.

Commonwealth Bank CEO Ian Narev Source: AAP