24 Apr 2019

Banks still pushing credit card sales - Consumer

From Morning Report, 7:53 am on 24 April 2019

Banks have been named and shamed, and yet they are still trying to push unwanted credit cards and insurance on customers. Consumer NZ's latest banking survey found one in five bank customers had been offered financial products they didn't request and, in many cases, didn't want. In Australia, a scathing Royal Commission report painted a picture of banks motivated by greed, unethical and possibly criminal behaviour, and recommended wholesale changes including the banning of commissions, and tighter regulation. But that reckoning appears to have little effect on their behaviour in New Zealand. Jessica Wilson is Consumer NZ's head of research. She talks to Guyon Espiner.