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Bank committee hearing 'con job': Shorten

AAP logoAAP 5/08/2016

Bill Shorten says getting the big banks to attend a meeting with a Liberal-controlled parliamentary committee is a "con job".

Prime Minister Malcolm Turnbull will require the banks to face questions from the parliament's economics committee at least once a year, after failing to pass the Reserve Bank's 25 basis point rate cut on in full.

"He's run the protection racket for financial services, when we've seen a string of scandal after scandal, and the best he can come up with is a meeting with a Liberal-controlled committee and the banks are not rattled in the slightest by Mr Turnbull's empty talk," Mr Shorten told reporters in Sydney on Friday.

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