Media

Good Returns - National calls for banking enquiry; Banks think it’s a good idea

March 9, 2023 - “There’s also legislation in the pipeline to help people safely share their banking information with other service providers, which will support even more competition,” Beaumont said.

Business Desk - Banks ‘welcome’ prospect of an inquiry

March 9, 2023 - “The industry would welcome the opportunity to discuss bank profits and the contribution banks make to support the New Zealand economy, households and businesses,” NZ Banking Association chief executive Roger Beaumont said.

Newshub - Government wants levy to pay for new banking system

March 9, 2023 - “If you wanted to switch banks today you would simply go into the new bank and sign an authorisation form and all of that process would happen behind the scenes within five working days,” said Roger Beaumont of the New Zealand Banking Association.

NZ Herald - Bank profits: Grant Robertson says select committee ill-equipped to conduct an inquiry

March 8, 2023 - “The industry would welcome the opportunity to discuss bank profits and the contribution banks make to support the New Zealand economy, households and businesses,” Beaumont said. “There’s also legislation in the pipeline to help people safely share their banking information with other service providers, which will support even more competition.”

TVNZ - All parties keen for select committee banking inquiry except Labour

March 8, 2023 - “There’s also legislation in the pipeline to help people safely share their banking information with other service providers, which will support even more competition.”

Newshub - Market study into banks on cards as Govt faces pressure to investigate eyewatering profits

March 8, 2023 - Banks are back under the microscope as the Government faces mounting pressure to investigate their eyewatering profits.

Stuff - Bank profits ‘costing New Zealanders $2000 a year each’

March 3, 2023 - A spokesperson for the NZ Banking Association said it would be a matter for the government.

NZ Herald - Should it take a regulatory change for banks to issue emergency finance?

February 27, 2023 - The New Zealand Banking Association in October submitted to the Ministry of Business, Innovation and Employment about introducing a permanent exemption to enable banks to provide customers with emergency credit in cases like natural disasters.