Published: September 09, 2018
Westpac and Asic had agreed to fine after bank conceded it wrongly assessed ability to repay mortgages
A federal court judge has balked at Westpac’s offer to pay a record $35m fine over its irresponsible lending practices for home loans.
The country’s oldest bank and the corporate regulator had agreed to the record fine after Westpac conceded it wrongly assessed people’s ability to repay mortgages between December 2011 and March 2015.
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