The Australian inquiry upped the temperature on the NZ arms of the Australian banks which are the largest players here and include ANZ, ASB, Westpac and BNZ. New Zealand's banking regulators have told banks to front up with information to prove they are not ripping off customers. Everett said the Australian inquiry upped the temperature on the New Zealand arms of the Australian banks which are the largest players here and include ANZ, ASB, Westpac and BNZ. The New Zealand financial services businesses have defended themselves by saying the industry is different here. "The Australian-owned banks operating in New Zealand are separately governed and regulated under New Zealand law," Scott-Howman said.

Source: Otago Daily Times May 01, 2018 20:26 UTC