'Highest level' inquiry needed on NZ banks - Simplicity boss

The union representing financial workers is calling for a royal commission into banking, but other key figures say there's no need. The Banking Ombudsman says her office is already doing a good job in dealing with complaints against banks. And Finance Minister Grant Robertson says a probe by the Financial Markets Authority and the Reserve Bank into bank practices should be able to reassure consumers that banks here are clean. Simplicity's managing director Sam Stubbs tells Guyon Espiner the highest level of inquiry is needed.