Members’ Bill Puts Woke Banks On Notice

Federated Farmers say Andy Foster’s Members’ Bill, drawn from the ballot earlier this afternoon, will stop lenders from unfairly de-banking legitimate businesses and industries.

"Banks have been under huge pressure recently for some of their more unpalatable lending practices," Federated Farmers banking spokesperson Richard McIntyre says.

"This Bill is only going to add to that scrutiny and will shine a white-hot light on big banks that have been forcing their ideological views down the throats of everyday New Zealanders."

Federated Farmers have been vocal critics of the banking sector in recent years and were instrumental in securing the select committee inquiry currently underway.

They have also played a significant role in exposing discrepancies between the different targets big Australian banks are setting for Kiwi farmers compared to their Australian clients.

Late last year the organisation blew the whistle on the Bank of New Zealand’s outrageous decision to effectively de-bank legitimate businesses like petrol stations from 2030.

"Federated Farmers support this Bill and will be encouraging all Government parties to throw their support in behind it," McIntyre says.

"Lending decisions should be based on financial drivers, not ideological or political considerations.

"Legitimate New Zealand businesses, like farms and petrol stations, should not be unfairly targeted by banks because of the industry we operate in.

"It’s important we can continue to access banking services and the capital we need to keep growing our businesses, creating jobs, and contributing to the economy.

"Provided we’re following the laws set by our democratically elected Government, we should be able to go about our business without our bank becoming the moral police."

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