Australia's banks grilled over charging dead clients fees and other unacceptable behaviour

Commonwealth Bank CEO Matt Comyn at the hearing of the House Economics Committee at Parliament House in Canberra, Australia, on Oct 11, 2018.
Commonwealth Bank CEO Matt Comyn at the hearing of the House Economics Committee at Parliament House in Canberra, Australia, on Oct 11, 2018.PHOTO: EPA-EFE

The head of Australia's largest bank, the Commonwealth Bank, on Thursday (Oct 11) delivered a surprisingly candid description of his firm's conduct in recent years: "Completely unacceptable."

Mr Matt Comyn, the bank's chief executive, is the first of the "big four" bank heads to appear this week and next week before the House of Representatives economics committee in Canberra, amid widespread public concern about misconduct in the financial services sector.

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