One Nation senator breaks down over banks

A One Nation senator has broken down in federal parliament over the "terrorism" inflicted by big banks, declaring a royal commission inevitable.

In his first speech to parliament on Wednesday, anti-bank farmer Senator Rod Culleton described last week's parliamentary inquiry into the big four banks as a pathetic "bankers' belly scratch".

The Australian people had a right to demand a royal commission into the "financial terrorism" being inflicted by the banks.

"While the bankers were saying sorry, I say sorry doesn't cut it," he said.

Senator Culleton said bank products needed to come with health warnings like cigarettes.

He choked up recounting his issues with the ANZ bank, blaming the bank for driving several people to attempt suicide.

Senator Culleton is facing multiple criminal charges, including allegations he surrounded a bank-appointed receivers' car with hay bales during foreclosure proceedings and took a key from a tow truck driver trying to repossess a car.

"If I had the choice of not being publicly disgraced by the media or removing a loaded gun away from a boy's hands, I'd choose the second option again and again," he said.

"I'd rather be humiliated than lose another life."

Readers seeking support and information about suicide prevention can contact Lifeline on 13 11 14 or Suicide Call Back Service on 1300 659 467.