The National Party this week called for a short, sharp Select Committee inquiry. The Banking Association welcomed National’s call, which is a pretty good indication of how worried the industry was about it.
Month: March 2023
Draft Credit Contracts and Consumer Finance (Buy Now Pay Later) Amendment Regulations 2022
Ministry of Business, Innovation and Employment
National calls for banking enquiry; Banks think it’s a good idea
“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.
Banks ‘welcome’ prospect of an inquiry
“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.
Government wants levy to pay for new banking system
“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.
Bank profits: Grant Robertson says select committee ill-equipped to conduct an inquiry
“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.”
Exposure Draft of the Connected Exposures Policy (BS8)
Reserve Bank of New Zealand
All parties keen for select committee banking inquiry except Labour
“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.”
Market study into banks on cards as Govt faces pressure to investigate eyewatering profits
Banks are back under the microscope as the Government faces mounting pressure to investigate their eyewatering profits.
Bank profits ‘costing New Zealanders $2000 a year each’
A spokesperson for the NZ Banking Association said it would be a matter for the government.
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