Nicola Willis: Finance Minister on the changes needed in the banking sector and rural banking

Published: June 12, 2024, 8:51 p.m.

The Finance Minister says change needs to happen in our banking sector.\xa0

The Government's requested an inquiry into banking competition, particularly in rural banking.\xa0

Nicola Willis says we owe this inquiry to our rural communities, who are vital for the recovery of our economy.\xa0

She told Mike Hosking that she's open to anything, including bringing banks into line and changing legislation to guide the Reserve Bank to do things differently.\xa0

Willis says this issue is at the heart of whether businesses can innovate and expand and if New Zealanders can get affordable lending and services.\xa0

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