Larry Williams Drive

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.