Two down, one to go! While CBA's Ian Narev appeared to keep his cool and steamroll over some committee members, ANZ's Shayne Elliott was more apologetic and conceded credit card rates may be too high.

Here's what went down today:

1. Good news for punters as ANZ declared it has an appetite to reduce interest rates for credit cards. Elliott also revealed the bank's credit card section made an after-tax profit of a "couple of hundred million" dollars out of the bank's $7.5 billion in profit.

2. After a number of stories in The Australian Financial Review, Elliott was been asked to explain why ANZ has been accused of having a 'blokey culture'. Liberal committee member Julia Banks suggested the bank had a systematic issue with its culture.

3. Canberra gasped as Elliott confirmed the future of ANZ's political donations are under a cloud.

4. Elliott has said he is open to a banking tribunal with conditions.

5. Ellliott said over the past year ANZ reported 45 of its financial planners to the Australian Securities and Investments Commission and sacked 40 of those.

6. Elliott rejected the idea that Australia's banking market was not competitive.

7. Elliott said the bank would be ​"happy to cooperate" ​with moves to encourage account portability through open data.

8. ANZ defended not sacking some employees caught up in the bank bill swap rate scandal.

9. Elliott said ANZ is "actively looking" at offering a 'tracker' mortgage but questioned whether customers would pay a premium for it.

10. Shayne Elliott mounted a defence of the bank's profits, which hit $7.5 billion last year.

11. ANZ's partial ownership of Malaysian AmBank came up - which held billions in the scandal-ridden 1MDB funds. Elliott said ANZ employees had nothing to do with 1MDB.

12. Elliott said he was not aware of any employees being sacked over the OnePath scandal.

13. ANZ did not advise people to invest in Timbercorp, Elliott said. Then, Hodges said this was because its financial planners were acting "conservatively" at the time.

14. ANZ was too slow to fix farm lending problems, Elliott conceded. In his opening statement Elliott apologised on behalf od the bank for harming some customers.

15. It's not over until the committee says it's over. Coleman and other committee members flagged that they would be requesting board papers and other documents from the bank, which would not have gone down so well. Further, Labor members have said they keen to bring CBA's Narev and Elliott back before the committee for more questioning this year...