The CEOs of Commonwealth Bank of Australia, Australia and New Zealand Banking, National Australia, and Westpac Banking will each face three hours of questioning this week starting on Tuesday by a 10-member panel comprising a diverse group of Australian lawmakers.
The government introduced the annual committee hearings in August after the big banks’ move to not fully pass on interest rate cuts to mortgage customers sparked renewed criticism that they were using their market power to hurt customers.
“We will be focusing on unethical practices and raising individual cases with them to demonstrate some of these practices are continuing despite the banks’ claim they have cleaned their act up,” Labor lawmaker and committee member Matt Thistlethwaite said.
Full Content: Fortune
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Takes On Prescription Drug Middlemen Over High Insulin Costs
Sep 20, 2024 by
CPI
EU’s Incoming Competition Head Pushes for Policy Shift to Support ‘European Champions
Sep 19, 2024 by
CPI
Google Challenges $217 Million Legal Fee Demand in Privacy Case
Sep 19, 2024 by
CPI
EU Moves to Enforce Apple’s Compliance with New Market Rules
Sep 19, 2024 by
CPI
California Attorney General Bonta Stands Firm Against Albertsons-Kroger Merger
Sep 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández