Kiwi Bank May Not Answer Banking Problems
Kiwi Bank May Not Answer Banking Problems Says Finance Union
"The Kiwi bank is not being set up to make a profit
– it's being set up to deal with the problems of banking in
this country," said Don Farr, General secretary of Finsec,
the union for bank workers.
"We believe, however, that
the scale of the problems that face this country – the
banks' lack of responsibility for our communities, the
higher fees, the lack of access for customers – requires Dr
Cullen to order a full enquiry into banking.
"The Kiwi
Bank may well be part of the answer.
"On it's own,
however, starting another bank may simply add to the
problems we already have. Remember this will be the
fourteenth time a bank has been set up as the panacea for
the community's banking problems. Each one has ended up in
overseas hands, creating further
problems.
Ends