Finance minister Nicola Willis calls for select committee inquiry into banking

Finance minister Nicola Willis wants the Finance and Expenditure and Primary Production Committees to join forces. (Image: NZME)

Rebecca Howard

Wed, 12 Jun 2024

Finance minister Nicola Willis has called for a select committee inquiry into banking competition, with a focus on rural banking and lending.“The Commerce Commission’s market study on personal banking services will assist with this, but the importance of this sector means it is appropriate for a select committee inquiry to also be undertaken,” she said in a letter to the chairs of the Finance and Expenditure Committee and the Primary Production Committee.According to the Commerce Commission, New Zealand’s major banks do...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Bloomberg Opinion

US bonds have never been risk-free, and never will be

It will still be a low-risk asset and in high demand.

Bloomberg 26 Apr 2025

World

Morocco volunteers on Sahara clean-up mission

Some 50 people, gloved and equipped with rubbish bags, toiled away for five hours.

AFP 26 Apr 2025

Morocco volunteers on Sahara clean-up mission

On the Money

On The Money: Passports, road love and more ...

Our weekly round-up of things you didn't know that didn't make the news.

Pattrick Smellie 26 Apr 2025

On The Money: Passports, road love and more ...

Sponsored

“Not an invisible footprint”: Why technology supply chains need optimising

Outdated hardware is a supply chain and cost risk.

Datacom

Sponsored

Bayleys Total Property Issue 3 out now

Backed by Bayleys’ national strength and global reach

Bayleys

More Finance

Finance

PEP seeking payday from UP Education

UP Education is a NZ success story in Australia.

Pattrick Smellie 23 Apr 2025

Finance

FNZ extends controversial catch-up offer

Fintech FNZ has extended its deadline for “catch-up” equity offers, as employee shareholders say discontent grows.In March, the global fintech offered its class B shareholders a “catch-up” offer after it revealed their holdings could be massively diluted following its August capi...

Victoria Young 16 Apr 2025