Commonwealth Bank boss Matt Comyn says Apple is free-riding on investments made by Australian banks and “unequivocally” needs more regulatory scrutiny after its entry into financial services.
Revamping his attacks on the US technology giant, Mr Comyn called for a bank-style levy on Apple and other large tech companies to level the competitive playing field. He said Macquarie was guilty of not paying its fair share for critical services such as cash distribution as well.
Loading...
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com