Business
Sub prime mortgages green-lit by ASIC – MacroBusiness
I noted last week how the Australian Prudential Regulatory Authority (APRA) had abandoned its responsible mortgage lending case against Westpac amid pressure from the heads of the RBA and Treasury, who warned that continuing would cripple Australia’s economic…
I noted last week how the Australian Prudential Regulatory Authority (APRA) had abandoned its responsible mortgage lending case against Westpac amid pressure from the heads of the RBA and Treasury, who warned that continuing would cripple Australia’s economic recovery post COVID-19.
Today, ASIC chairman James Shipton has confirmed that the regulator does not want to hamper the economic recovery by requiring banks to lend responsibly:
Shipton said that “there were a range of factors” that influ…
