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ASIC Is Assessing Mortgage Lending Standards Across The Banking Sector

The Australian Securities and Investments Commission (ASIC) said it was examining mortgage lending standards across the banking sector after initiating civil court proceedings against Westpac Banking Corporation. The Westpac case “sends a message to the broader sector” that ASIC is prepared to “take anyone on,” Chairman Greg Medcraft told a parliamentary committee in Canberra.  On…

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