The parliamentary committee scrutinising the big lenders says it is “deeply concerned” about the culture in the banks and has called on Commonwealth Bank to reconsider a decision made last year to break bonus caps put in place before the Hayne royal commission.

Following hearings with bank bosses last year, the House of Representatives economics committee said in a report released on Thursday evening that it was “concerned by the resurgence of remuneration practices that may create inappropriate incentives that could result in inappropriate conduct and worse outcomes for consumers”.