The Government says it will act on all 19 recommendations from Parliament’s banking inquiry - and it's committed to increasing scrutiny around the banking sector.

This comes as Westpac and ANZ report significant increases in profit, prompting concern from experts.

Kent Duston from the Banking Reform Coalition says the proposed changes make good steps forward, but it's unclear how much of a difference they will make.

"I think the big issue here is that the banks simply don't care. Whatever Parliament says - we're on the back of an inquiry from the Commerce Commission, another inquiry from Parliament from the select committee...whatever it is Parliament's saying, clearly the banks aren't listening."

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The Government says it will act on all 19 recommendations from Parliament’s banking inquiry - and it's committed to increasing scrutiny around the banking sector.
This comes as Westpac and ANZ report significant increases in profit, prompting concern from experts.
Kent Duston from the Banking Reform Coalition says the proposed changes make good steps forward, but it's unclear how much of a difference they will make.
"I think the big issue here is that the banks simply don't care. Whatever Parliament says - we're on the back of an inquiry from the Commerce Commission, another inquiry from Parliament from the select committee...whatever it is Parliament's saying, clearly the banks aren't listening."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Kent Duston: Banking Reform Coalition spokesperson on the state of the Government's banking inquiry

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/6c8c0b9b-4e09-4609-8edd-b3940060e118/transcript

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