Business
The Australian government has announced it will wind back responsible lending laws, making it easier to access credit – Business Insider Australia
In an effort to kickstart the economy, the Morrison government will axe responsible lending laws to make it easier to get a loan.
- The federal government is loosening credit restrictions in an attempt to encourage lending.
- On Friday Treasurer Josh Frydenberg announced the responsible lending laws would be would back, having become “an overly prescriptive, complex, costly, one-size-fits-all regime”.
- There is some anxiety over the consequences of encouraging greater lending during a recession.
- Visit Business Insider Australia’s homepage for more stories.
In an effort to kickstart the…
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