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Major banks welcome Federal Government changes to lending obligations – NEWS.com.au
Major banks welcome Federal Government changes to lending obligations
Australias major banks have welcomed the shake-up to the countrys credit laws, claiming the red-tape-cutting reform will boost the economic recovery from the coronavirus pandemic.Commonwealth Bank, ANZ, NAB and Westpac have embraced the Federal Government’s ditching of responsible lending obligations that will result in lenders being subject to one less rule when providing loans to customers.
The laws were first introduced by the Rudd Labor government in 2009 and sparked a heated court battle b…
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