You can talk to companions and ask from a set of questions about their backstory, or what you should do next, and they'll give a response.
They'll also (rarely) react to world events, giving their views on situations you find yourself in. But it's little more than the odd line of text or a small bit of backstory.
Not much in the way of chat or banter between the group.
Good, so it will not be a complete disaster
Last question:
If some NPC starts a dialogue with your group, do you have to choose what character will talk or is it always the leader?