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
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.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
The Breakfast Club
The World's Most Dangerous Morning Show, The Breakfast Club, With DJ Envy, Jess Hilarious, And Charlamagne Tha God!