Australian banks seen facing inquiry after cliff-hanger election

Sydney

AUSTRALIA'S Big Four banks look set to face tough new scrutiny in the wake of the country's knife-edge election as a disparate group of lawmakers push for a wide-ranging inquiry into mis-selling, misconduct and market dominance concerns.

Commonwealth Bank of Australia, Westpac Banking Corp, Australia and New Zealand Banking Group and National Australia Bank control 80 percent of the country's lending and could face calls to be broken up if independent and small party lawmakers succeed in their push for a Royal Commission into the industry.