The Government's beefing up Kiwibank - at the request of the Commerce Commission.

Its report on banking has found the sector isn't competitive enough, and offered up 14 recommendations.

Simplicity co-founder Sam Stubbs says the banks would be foolish to ignore Government warnings.

He says the Prime Minister's telling the banks - the game is up.

"Remember, the only person that can seriously do damage to the big banks in New Zealand is the Government, because they've got regulation powers."

LISTEN ABOVE

The Government's beefing up Kiwibank - at the request of the Commerce Commission.
Its report on banking has found the sector isn't competitive enough, and offered up 14 recommendations.
Simplicity co-founder Sam Stubbs says the banks would be foolish to ignore Government warnings.
He says the Prime Minister's telling the banks - the game is up.
"Remember, the only person that can seriously do damage to the big banks in New Zealand is the Government, because they've got regulation powers."
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Sam Stubbs: Simplicity co-founder on the Government's new moves to boost competition in the banking sector

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e27bfcb8-550f-49ce-b62f-b2410051d9c1/transcript