All posts tagged "responsible lending"
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241UncategorisedPhilippines Moves to End Abusive Practices by Fintech Lenders
A code of ethics and code of conduct have been adopted by members of FinTechAlliance.ph prohibiting the harassment and shaming of delinquent borrowers.
September 18, 2019 -
470Australia & NZASIC Bans Lending Model Found to Cause Consumer Detriment
ASIC is using its product intervention power to end a practice that has to date enabled payday lenders to charge fees up to 1000% of the loan amount.
September 14, 2019 -
285Australia & NZASIC to Appeal Westpac Responsible Lending Case Dismissal
ASIC says last month’s federal court’s ruling in favour of Westpac creates uncertainty as to what is required for a lender to comply with its loan assessment obligations.
September 11, 2019 -
1.1KCapital RegulationHKMA Allows Lenders to Expand Use of Tech in Retail Lending
The HKMA is allowing lenders to further develop business involving the use of innovative financial technology to assess and approve personal loan applications.
August 30, 2019 -
855Asia-PacificThailand Banks Commit to Lending Based on ESG Factors
The BOT, Thai Bankers’ Association and 15 banks have taken steps to establish common policies to ensure socially-conscious loan approvals based on ESG factors.
August 16, 2019 -
334Australia & NZ
ASIC Ordered to Pay Westpac Costs in Case Dismissal
In September, Westpac admitted to breaching responsible lending laws and agreed to a A$35mn settlement with ASIC. The settlement was rejected and the case has been dismissed.
August 14, 2019 -
587Australia & NZ
ASIC Defends Responsible Lending Guidance
ASIC says the proposed responsible lending guidance is not about increasing requirements; rather, it seeks to clarify and update guidance on existing requirements.
July 11, 2019 -
507Australia & NZ
ASIC to Hold Public Hearings on Responsible Lending
The public hearings will provide a "robust and transparent way" to air issues and views raised in written submissions responding to ASIC's February consultation on responsible lending.
July 2, 2019 -
453Australia & NZ
ASIC Approves Updated Banking Code of Practice
ASIC is assessing changes to the Code proposed by the ABA in two stages, the first of which has been approved and is reflected in the latest version which took effect on 1 July.
July 1, 2019 -
774Australia & NZNew Zealand Proposes Ways to Improve Banking Conduct, Culture
The proposed measures will put the consumer at the heart of decision-making and make good outcomes the bottom line, says Commerce and Consumer Affairs Minister Kris Faafoi.
May 1, 2019
