Government launches inquiry into banking competition, focus on rural areas – RNZ 12 June 2024

Summarised by Centrist

Finance Minister Nicola Willis has initiated an inquiry into competition within New Zealand’s banking sector, with an emphasis on rural banking. This decision, part of the coalition agreement between National and New Zealand First, aims to address declining farmer satisfaction with banking services and foster a more competitive and productive economy.

The inquiry will involve consultations with financial market regulators and submissions from bank executives, aiming to identify barriers to competition and improve access to lending in rural areas.

Read more over at RNZ

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