Saturday, 06 July 2019 08:46

Cashing in

Written by 

Your canine crusader finds it hard to have any fondness for the banks in this country.

Unlike Damien O’Connor or Fed Farmers, this old mutt reckons the newly introduced Farm Debt Mediation Bill will have bugger-all impact on the banks when they decide to sell up struggling farmers.

It is little more than a glorified PR exercise by the government and the bankers’ association.

This was hammered home recently, when your old mate was informed that the ANZ Bank – which only made a paltry $2 billion in NZ last year – has now introduced a 0.75% charge on all its farming clients to have an overdraft facility with the bank.

Fair enough, you may think, but the bank is charging this fee whether or not the OD facility is used. Perhaps this is how the bank funded its former chief executive’s annual $400k-plus expense account.

Featured

National

Machinery & Products

» Latest Print Issues Online

The Hound

Overbearing?

OPINION: Dust ups between rural media and PR types aren't unheard of but also aren't common, given part of the…

Foot-in-mouth

OPINION: The Hound hears from his canine pals in Southland that an individual's derogatory remarks on social media have left…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter