Responsible Lending Rules Axed

2020-10-11T06:55:52+00:00 October 11th, 2020|Uncategorized|

Responsible lending laws that fuelled a court fight between the corporate regulator ASIC and Westpac have been scrapped for banks, meaning less onerous credit rules aimed at encouraging the flow of loans to boost the economic recovery from the COVID-19 recession. The responsible lending law was imposed by the Rudd Labor government back in 2009 [...]