An idea to get bank profits down without needing an inquiry.
Jacinda Ardern is telling banks to consider their social licence to operate, after ANZ announced a record profit of $2.3 billion dollars, and Westpac more than $1 billion.
The Government says the Commerce Commission won't be called in to take a look.
Simplicity Founder Sam Stubbs says we could try open banking, a system used in other developed nations - where books are opened to a financial provider, allowing easy comparisons.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Popular Podcasts
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.
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.