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02

Australia Mortgage Lending Standards in Regulator Crosshairs

By Tony Seruga

Westpac case should send a message, ASIC’s Greg Medcraft says
ASIC announcement on other Aussie banks expected within weeks

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…

Australia Mortgage Lending Standards in Regulator Crosshairs

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