RBNZ shouldn't protect consumers, say former governors, business groups

Mon, 15 Apr 2019

By Jenny Ruth April 16 (BusinessDesk) - Three former Reserve Bank governors don’t think consumer protection should be added to the central bank’s objectives. That's despite Australia’s banking regulator having an explicit role in protecting consumers’ interests, something the government is considering in its review of the central bank's legislation. The Australian Prudential Regulation Authority’s website explains that its legislation means it is "tasked with protecting the interests of depositors, policyholders and superannuation fun...

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