All posts tagged "responsible lending"
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296Australia & NZNew Responsible Lending Laws Take Effect in New Zealand
The new law requires lenders to act responsibly at all times. They can be forced to refund interest, fees and damages for failing to do so.
December 1, 2021 -
160KoreaKorea Creates Taskforce to Oversee Household Debt Management
The taskforce will explore additional measures to manage household debt-related risks and promote more responsible lending practices.
November 2, 2021 -
192Capital Regulation
S. Korea Unveils More Measures to Contain Household Debt
Among the measures, the FSC will monitor how banks are applying suitability and adequacy principles in their lending, and impose fines for violations.
October 29, 2021 -
188Australia & NZNew Zealand: Class Action Filed Against ANZ, ASB
The class action reportedly involves interest and fees ANZ and ASB were not entitled to charge due to breaches of their disclosure obligations.
October 5, 2021 -
398Australia & NZAustralia Delays National Consumer Credit Protection Act Reforms
Whether or not responsible lending obligations are repealed, ASIC says it will enforce lending standards as part of its focus on consumer protection.
March 29, 2021 -
221Australia & NZRBA Report Contradicts Official Stance on Responsible Lending Laws
An RBA internal report indicates that the absence of responsible lending laws could put borrowers at greater risk, particularly in a low interest rate environment.
January 22, 2021 -
434Asia-PacificMyanmar Launches First Credit Bureau Following Soft Launch
The bureau is a joint venture between MB Investment, a company formed by Myanmar banks, and a subsidiary of Singapore-listed Credit Bureau Asia.
January 8, 2021 -
333Australia & NZAPRA Proposes Potential Changes to Credit Risk Management Standard
Amendments, including an earlier implementation date, will be necessary if the government’s proposed consumer credit reforms are passed as legislation.
December 9, 2020 -
1.2KAustralia & NZUnderinvestment in Data, Tech a Root Cause of Breaches: ASIC
Underinvestment in data and technology systems creates operational risks, delays in picking up problems, and costly remediation programmes, says ASIC commissioner Sean Hughes.
November 16, 2020 -
907Australia & NZCBA to Pay Penalty for Increasing Problem Gambler’s Credit Limit
ASIC launched civil proceedings against CBA in March alleging that the bank failed to take account of a notification by a customer that he was a problem gambler.
November 2, 2020
