A high-powered microscope will be trained on New Zealand's banks.
The Government has just confirmed a Commerce Commission probe into banking sector competition.
Top of mind will be understanding competition issues and barriers new market competitors face, as well as looking into consumers' ability to switch banks.
The Commission will also investigate banks’ profitability and other financial measures.
A preliminary issues paper will be released in August, but the study isn't due back until the same time next year.
Simplicity Managing Director and founder of KiwiSaver provider Simplicity Sam Stubbs told Stuff the enquiry is four years too late, but it's good it has finally arrived.
Stubbs joined Simon Barnett and James Daniels to discuss the announcement.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Popular Podcasts
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.