On one hand, the government has just waved through one of the biggest banking mergers of the last 20 years. On the other, they’ve been waving the big stick at Australia’s supermarket oligopoly.
Martien Lubberink, Te Herenga Waka — Victoria University of Wellington
The Commerce Commission says New Zealand’s banking sector is uncompetitive. But in the rush to fix the problem, regulators need to ensure they don’t introduce risk and instability into the system.
Insurance is supposed to be a safety net, but it can be weaponised in domestic and family violence situations. There’s a lot we can do to better protect victim-survivors.
Peter Martin, Crawford School of Public Policy, Australian National University
We really are being charged more than we used to be. If the government is concerned about price gouging, it could try this bold idea: offering its own low-cost bank loans.
Jane Horan, University of Auckland, Waipapa Taumata Rau
People from NZ charities and not-for-profits told me volunteers and paid staff can spend months on basic banking processes. But just one ‘golden unicorn’ bank employee can make all the difference.
Banks in the UK have to conduct extra checks on people more at risk of blackmail – and an easier option is sometimes just to say no to giving them and account.