Pressure stays on Turnbull to take on banks

PRIME Minister Malcolm Turnbull may have rejected a royal commission into the banks, but the pressure remains for him to do more.

New South Wales Nationals senator John Williams would prefer to see a royal commission, but in its absence he and fellow Coalition MP Warren Entsch will campaign for the establishment of a banking tribunal for people who cannot afford to take action through the courts.

"If you've been sold up, of course you're penniless, there's nowhere to go," Mr Williams said, adding he would be willing to vote in favour of Labor's royal commission bill if it made it to the Senate and he agreed with the terms of reference.