Be afraid
OPINION: Your old mate hears some of the recent uptick in farmer confidence has slipped since the political polls started leading a bit to the left, away from the current coalition of National, Act and NZ First.
The Bill, it is hoped, will stop lenders from unfairly debanking legitimate businesses and industries (such as petrol stations) on ideological grounds.
As Feds' banking spokesperson Richard McIntyre says, "Banks have been under huge pressure recently for some of their more unpalatable lending pressures. This Bill [will] add to that scrutiny and shine a white-hot light on big banks that have been forcing their ideological views down the throats of New Zealanders".
While not their Bill, the Feds are claiming this as a moral victory for them.
Fair enough too, they've been vocal critics of the banking sector in recent years and helped get the select committee inquiry currently underway.
