44227 (2025). Arena Williams to the Minister of Commerce and Consumer Affairs

44227 (2025). Arena Williams to the Minister of Commerce and Consumer Affairs: Does the Minister believe there is a need for an independent regulator to enforce compliance with a voluntary bank scam reimbursement scheme?

Hon Scott Simpson: Banks are already subject to prudential and conduct oversight by the Reserve Bank of New Zealand and Financial Markets Authority respectively, while consumers have access to free, independent redress through the Banking Ombudsman Scheme.