In his judgement last year, Justice Perram found a customer's current living expenses weren't an important indicator of whether they could afford the loan, contending expenses could be cut if necessary.
The judges agreed that even though the law requires the bank to make reasonable inquiries about a potential borrower's circumstances, it does not need to take all that information into account when assessing if a loan is unsuitable. In his dissenting judgement, the third judge Justice John Middleton said he would have allowed the appeal in part.
"Whether it be Wagyu beef washed down with the finest Shiraz , or less expensive expenditure on food and drink, this may not be willingly forgone or even able to be reduced by a particular consumer," Justice Middleton wrote.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Senator calls for ASIC probe into Holden over 'potential phoenixing'Senator Deborah O'Neill has asked the corporate regulator to investigate General Motors' plans to establish a new company that will import and sell GM vehicles in Australia.
Source: smh - 🏆 6. / 80 Read more »
Trump rejoices as case against Michael Flynn is dismissedThe case against former United States national security advisor Michael Flynn is dismissed by an appeals court, leaving President Trump to applaud the decision. uh, has it been dismissed though? or did an appeals court rule that sullivan should dismiss it? Ooo. I bet that hurt to report ABC. Next you should try reporting how Obama and Biden were connected or it's going to come as a massive trauma to your lefty apologists when these two get sent to Gitmo for treason.
Source: abcnews - 🏆 5. / 83 Read more »
Senator calls for ASIC probe into Holden over 'potential phoenixing'Senator Deborah O'Neill has asked the corporate regulator to investigate General Motors' plans to establish a new company that will import and sell GM vehicles in Australia.
Source: smh - 🏆 6. / 80 Read more »
Migrant workers need support, jobs at home after pandemic disruption: UNMillions of migrant workers who lost their jobs due to the coronavirus pandemic are expected to return home to already overburdened labour markets, says the UN. At least it's their home so our overburdened labour market can now serve our own people. SBS and UN both useless information ..both their hands out for contributors from the Government
Source: SBSNews - 🏆 3. / 89 Read more »
US court orders dismissal of case against former Trump aide Michael FlynnA US appeals court has directed a federal judge to drop a criminal case against President Donald Trump's former national security adviser Michael Flynn in another twist to the politically charged case. this is a massively big thing , good man , watch for what comes next ! Flynn wasn't working for Putin on the DL after all?
Source: smh - 🏆 6. / 80 Read more »
Victoria requests ADF support to help with coronavirus responseVictoria asks for help from the Australian Defence Force as it tries to tackle an increasing number of coronavirus infections in the community, while four other states agree to lend their support. Dan’s Army 🙄 Good stuff this BioSecurity Act, eh ! Shoot toilet roll hoarders on sight.
Source: abcnews - 🏆 5. / 83 Read more »