Labor and Nationals continue banks inquiry push

Labor leader Bill Shorten says he is open to Turnbull government plans for a scheme to compensate past victims of financial scandals. But the Opposition leader is still pushing for a royal commission into the banking sector. The sector is in parliamentary sights this week with Nationals senator Barry O'Sullivan proposing legislation to set up a commission of inquiry.

Australian Opposition Leader Bill Shorten listens to former employees of the banking and financial services sector during a meeting at Parliament House Canberra Source: AAP