All posts tagged "responsible lending"
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358Australia & NZNew Zealand to Revise Responsible Lending Rules
The new rules, introduced in December, were designed to protect the vulnerable but are making it more difficult for borrowers to obtain loans.
March 16, 2022 -
625Asia-PacificCambodia Launches New Code of Conduct for Banking & Finance
Banks and financial institutions will have until the end of this year to improve their systems and policies to ensure compliance with the code.
March 9, 2022 -
719Australia & NZ
New Zealand to Probe Lenders on Application of New Lending Rules
The government has asked the Council of Financial Regulators to bring forward an investigation into whether lenders are implementing the new lending rules as intended.
January 21, 2022 -
407Australia & 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 -
205KoreaKorea 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 -
248Capital 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 -
259Australia & 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 -
476Australia & 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Whether or not responsible lending obligations are repealed, ASIC says it will enforce lending standards as part of its focus on consumer protection.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 -
263Australia & 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 -
473Asia-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
