Pursuits
Australia Mortgage Lending Standards in Regulator Crosshairs
- Westpac case should send a message, ASIC’s Greg Medcraft says
- ASIC announcement on other Aussie banks expected within weeks
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Australia’s securities regulator said Thursday it is looking at mortgage lending standards across the banking sector after taking civil court proceedings against Westpac Banking Corp.
The Westpac case “sends a message to the broader sector’’ that the Australian Securities & Investments Commission is prepared to “take anyone on,’’ Chairman Greg Medcraft told a parliamentary committee.