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

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

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/a8f17453-0eed-4c17-a293-b2410051ce14/transcript