Westpac to pay $35m fine for home loan conduct

Country
Kazakhstan (KZ)
Score
6.54
Source
The Guardian
Time
2018-09-04 (UTC)
ID
12268328

Bank admits breaching lending obligations by failing to properly account for customers’ living expenses Westpac has agreed to pay a $35m fine for failing to properly take into account customers’ living expenses when assessing their ability to repay home loans. The bank admitted breaching its responsible lending obligations when providing home loans to settle court action taken by the Australian Securities and Investments Commission. Continue reading...