Westpac faces responsible lending class action

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Westpac is facing the first class action against a major bank in the wake of the Hayne royal commission into financial misconduct | clancyyeates

 

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clancyyeates Headline hides the fact that a Brisbane female named Michelle Tate borrowed $1.8m on a single income with two kids, interest only loan, what was she expecting? A free ride? She’s the irresponsible greedy one for going ahead with such a aggressive property portfolio. SMH stop

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Westpac hit with class action that could affect thousands of home loansA class action is launched against one of Australia's biggest banks, alleging irresponsible lending practices. At 4pm Tuesday 12th February 2019 Senator Pauline Hanson Introduced the Banking System Reform (Separation of Banks) Bill 2019 into the Senate. pesky lawyers are actively signing up class action law suits to gain fat fees The practice should be banned Sounds like the Tate’s should of tried using their own brains and should of known they couldn’t afford the repayments. Nobody takes responsibility for their own actions anymore.
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Source: abcnews - 🏆 5. / 83 Read more »

Property prices tipped to plunge further as lending slumpsThe Reserve Bank is expected to cut Australia’s already record-low interest rates later this year as house prices continue to plummet. 9News Wonder who’s side RBA is err’ing too?
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