Member for Mackellar Jason Falinski has used the Parliamentary Economics Committee to grill the big four banks, asking NAB CEO Andrew Thorburn to explain why the Avalon NAB branch has closed.
Mr Falinski, who is a member of the Economics Committee that questioned bank CEOs following the Royal Commission called for more competition in the banking sector.
“In global terms, the big four banks in Australia are some of the most profitable financial institutions in the world. That does not speak to a competitive environment locally.
“Consumers need more access to banking and financial services, not less,” Mr Falinski said.
Outside of the hearing, Mr Thorburn responded to Mr Falinski’s question, committing to look into reasons behind the NAB Avalon branch closure.