Business
Banks surge on responsible lending wind-back – The Australian Financial Review
Banks and the Property Council have welcomed plans to remove ASIC from policing responsible lending laws, saying this will speed up loan approvals and bring investors back to the real estate market.
These enhancements would enable us to assess loan applications across specific lending products rather than a one-size-fits-all’ approach.
“We will be able to streamline our processes, making it an easier and simpler process for customers,” he said.
“It will also play an important role in ensuring access to credit for businesses wanting to invest and grow. SME businesses drive employment and this is very important for economic recovery.”
Westpac executives have previously pointed to excessive…
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