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Major banks back on the stand as RC rolls on

by Reporter1 minute read
meeting, list, announced

The witness list for the next round of hearings for the banking royal commission has been announced.

The fourth round of royal commission hearings will review issues experienced by financial services customers in remote and regional communities. Areas to be covered include farming finance, natural disaster insurance and Aboriginal and Torres Strait Islander Australians’ interactions with financial services entities.

Banking royal commissioner Kenneth Hayne will hear from three of the major banks and some of their subsidiaries including Commonwealth Bank and its subsidiary Bankwest, Australia and New Zealand Banking Group and its subsidiary Landmark, and National Australia Bank.

Representatives from other banks including Bendigo and Adelaide Bank, Rabobank and Suncorp will also testify at the fourth round of hearings.

Other financial services entities such as Select AFSL, Youi and ACBF Funeral Plans will also be answering questions in the witness stand.

The case studies that will be examined in the fourth round of hearings will pertain to Tropical Cyclone Debbie in March 2017, the hail storm in Broken Hill in November 2016, the bushfires near Wye River in December 2015, and the floods in the Hunter Valley in April 2015, among others.

The next set of hearings are taking place in Brisbane from 25 June to 29 June, and in Darwin from 2 July to 6 July.

[Related: ‘Structural shift’: Big four losing broker business]

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