Banks bounce back as lending laws relaxed – weekly review – Small Caps

It only took one stroke of the pen from Treasurer Josh Frydenberg and the big banks were back in business, once again dominating the share market and adding an almost instant $15 billion of valuation.
The decision by the Treasurer to greatly relax responsible lending rules for the banks quickly caused a stampede of investors back into the banks as they factored in much larger than expected credit growth across mortgages, personal loans and credit cards.
Consumer groups were not so happy given …

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