Banking royal commission quiz: what incredibly dubious practices were revealed this week? | Australia news

Banking royal commission quiz: what incredibly dubious practices were revealed this week? | Australia news

You got… You seem to know very little. Have you considered a career as a financial adviser? Not bad. You must have been following the hearings this week, while stuffing your savings into a mattress. Congratulations, you’re the next head of the Australian Securities and Investments Commission! Source link

Westpac shares crumble after poor lending practices conceded in internal documents

Westpac shares crumble after poor lending practices conceded in internal documents

Updated April 26, 2018 17:02:48 Westpac’s share price has nosedived after the release of explosive documents detailing widespread failings in not only the quality and riskiness of its home loans, but the way they are processed. Key points: Westpac shares tumble 4pc after APRA finds it has the worst record …

Liquid paper and broken dreams: Homeowners brought to their knees over lending practices

Liquid paper and broken dreams: Homeowners brought to their knees over lending practices

Updated April 26, 2018 19:08:33 Jason Hannagan had to sell his home and an investment property after a financial lender gave his family a loan they could not afford to repay. Mr Hannagan’s family took out a $590,750 loan from a lender called Pepper Money in 2012. He estimated the …

‘They can see I’ve a gambling problem’: Banks’ lending practices laid bare at royal commision | Australia news

The anguish on Michael Harris’s face said it all. The British-born roofer broke down this week when he appeared as a witness at the banking royal commission. In between deep breaths, Harris told commissioner Kenneth Hayne how he had amassed a $35,000 credit card debt with the Commonwealth Bank, and …