Amendments to prevent the big four banks from acquiring smaller lenders are due to be moved in Parliament later today by Greens MP and banking spokesperson Adam Bandt.
Mr Bandt's changes to the Competition and Consumer Amendment Bill (No. 1) will ensure the ACCC will prevent mergers such as Westpac's takeover of St George.
"Australia has one of the most concentrated banking sectors in the world and it is killing competition for consumers."
"The Australian banking market is the most concentrated it has been for a century."