02 Mar ASIC takes Westpac to court
ASIC has commenced civil penalty proceedings in the Federal Court against Westpac for a number of contraventions of the responsible lending provisions.
This could just be the tip of the iceberg because, as Andrew Mirams points out, the regulator says it has reviewed the responsible lending practices of 11 lenders.
So what is ahead and what has Westpac allegedly done?
Watch this 9 minute video that lays it all out.