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21 Jun 2024 9:02
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  •   Home > News > Politics

    A tech bill will let consumers share data with service providers, with the aim of lowering prices

    A tech bill will let consumers share data with service providers, with the aim of lowering prices


    Banks, insurance, and power companies will be able to use consumer data, to compete with each other.

    Commerce and Consumer Affairs Minister Andrew Bayly says it could change the banking environment for consumers.

    He says Australia has similar laws, and banks there can offer loans in 10 minutes, simply through accessing customers' spending habits and income data.

    © 2024 Newstalk ZB, NZCity

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     20 Jun: Dutton goes nuclear, proposing seven government-owned generators with the first starting in 2030s
     20 Jun: The Government's keeping possible changes to the electric vehicle scheme on the down-low
     20 Jun: Local Government Minister Simeon Brown is defending the extra costs of polls on council Maori Wards
     19 Jun: Australia announces new initiatives to help improve PNG's internal security, law and justice as part of major bilateral security agreement
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