The top brass at the country’s banks, as well as their regulators, are due to be publicly questioned by politicians about the level of competition in the banking sector.

Finance Minister Nicola Willis has asked Parliament’s Finance and Expenditure Committee to lead an inquiry into competition in the banking sector.

The inquiry will draw on the draft findings of the Commerce Commission’s big market study into retail banking, which is due for completion by August 20.

NZ Herald Wellington business editor Jenee Tibshraeny explains the possible outcomes of this inquiry.

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