DON'T BANK ON IT: Although it's unlikely Ken O'Dowd would cross the floor on the issue, he says the
DON'T BANK ON IT: Although it's unlikely Ken O'Dowd would cross the floor on the issue, he says the "banks have to be pulled into line”. Contributed

MP toes party line after colleague supports bank inquiry

FLYNN MP Ken O'Dowd stopped short of throwing his support behind Independent MP Bob Katter's proposal to set up a Royal Commission into banks.

Fellow Nationals MP George Christensen said on Twitter that he would support Mr Katter's proposal but Mr O'Dowd said he didn't have enough detail.

In what has already been a tough week for the Coalition after Senator Cory Bernardi's exit from the Liberal Party, Mr Christensen's early support for Mr Katter's bill goes against the government's position about not holding an inquiry into the banks.

Although it's unlikely Mr O'Dowd would cross the floor on the issue, he said the "banks have to be pulled into line”.

"A royal commission would only look at what was happening now and what has happened...we know there has been injustices done by the banks,” he said.

"Royal commissions cost a lot of money but only address the issue of the day. I want to see something that is ongoing.”

Mr O'Dowd said he had met with officials this week to discuss a new program that would address issues in the banking sector.

He said the program would look into adjustments to the way bankers' wages were linked to commissions, the addition of customer advocates who would act as go-betweens for the customer and the banks and as well as ways to improve property valuations.



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