Rural communities are elated to see their repeated concerns being heard.

The Finance Minister has asked the Finance and Expenditure and Primary Production Committees to lead a joint inquiry into rural banking.

Federated Farmers says rural New Zealanders are facing huge financial pressures - worsened by unfair interest rates.

Spokesperson Richard McIntyre says it's causing farmers to sell up.

"It's the banks making excessive profits and it's a lack of competition in the rural banking space. We've only got 5 rural banks, but we have about 18 in the residential space."

LISTEN ABOVE

Rural communities are elated to see their repeated concerns being heard.
The Finance Minister has asked the Finance and Expenditure and Primary Production Committees to lead a joint inquiry into rural banking.
Federated Farmers says rural New Zealanders are facing huge financial pressures - worsened by unfair interest rates.
Spokesperson Richard McIntyre says it's causing farmers to sell up.
"It's the banks making excessive profits and it's a lack of competition in the rural banking space. We've only got 5 rural banks, but we have about 18 in the residential space."
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

Richard McIntyre: Federated Farmers spokesperson on the Finance Minister's planned joint inquiry into rural banking

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/9113f4b1-9e0d-47e9-8cf5-b18d005c7b7a/transcript