. It could continue using its benchmark, and ASIC opted not to appeal to the High Court.
"As Australia continues to recover from the COVID-19 pandemic, it is more important than ever that there are no unnecessary barriers to the flow of credit to households and small businesses.""The Commonwealth Bank recently said that the flow of credit is above pre-COVID levels and that lending is growing at a strong pace," noted the Consumer Action Law Centre's CEO Gerard Brody.
To support his case, the Treasurer cited recent testimony from the Reserve Bank governor Philip Lowe at a Parliamentary hearing. Indeed, while noting that credit growth to households was slowing, minutes from the RBA's most recent meeting didn't attribute that to any difficulties in getting loan approval.
It's a problem in search of an excuse
'Josh Frydenberg's own department doesn't, or at least didn't in 2018, buy into the argument that responsible lending obligations hurt the economy' They were dragged kicking and screaming to set up the royal commission.
Is this the US 2007 housing crisis all over again? Are banks now approved to authorize NINJA loans? I expect 2021-2022 banks will have huge defaults, australian housing collapse followed by hyperinflation. Hold onto your seats australia. Now to go watch the big short!!!
Take the prudent out of APRA. Turn the banks into payday lenders. Cool.
Is this a joke?🤦
Once they have you in total debt, they will be able to twist you around their little finger. This is a fkn disgrace, if the labour party votes for this it will be a massive sell-out of Australians.
Look where America's Glass-Stegall Repeal led to. This is insanity.
They aren't a solution at all.
Jonathan Karl worried people think the press is now the 'resistance'. Ha! That was two years ago. We now know they are Democrat propagandists. Listen to the daily news you clowns. Change channels you'll hear the exact same thing! Word for word.
I am ok with it, if you don't like the loan approval terms and repayments don't except it. 👍 In saying that, if you do get into trouble sell before the bank starts the forclosure steps .
Let’s further deregulate a system which has recently been shown to be ruthless and uncaring and partaking in illegal and immoral practice for pecuniary gain. That sounds like a good idea 😳
Still waiting on the names of the 22 people who may face criminal investigations 🕓🤔
A picture is worth a thousand words 😂
With a look that says: 'I could slap you right now.'
Awesome I’ll be able to pick up a property under foreclosure soon ☺️ Thanks LiberalAus 👍👍 auspol
An LNP solution to an LNP problem. Their casualised/immigrant workforce means no one can qualify for credit or loans. Solution, remove due diligence laws the banks need to abide by. How good are foreclosures?! Pickup a bargain AND widen their beloved class gap 👉🏿👌
Don't bother, it's technical stuff. A bit beyond you mob at ABCaustralia
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Tasmanian Housing Minister accused of lying after documents reveal Government tenancy plansTasmania's Government had secret plans to change laws so public housing tenants could be evicted without reason, Cabinet documents revealed in State Parliament show. when the topic of public housing is such a burden you need to lie, fudge numbers, avoid scrutiny, deny and defend, underreport - typical Lib ideology
Source: abcnews - 🏆 5. / 83 Read more »
Simpler lending rules for home loans and credit to free up the economyTreasurer Josh Frydenberg will overhaul the laws governing mortgages, personal loans, credit cards and payday lending to streamline decisions on whether customers can afford the loans they seek | CroweDM CroweDM A complete disgrace. After the RC. And Austrac. The government's response is to remove responsible lending provisions? 'Hey, we wanted you to look after your borrowers. Now, nah, go for it... You guys seem to have your houses in order...' CroweDM That sounds interesting. Please JoshFrydenberg look at the data Q’s in algorithms. Don’t base it on ‘how can you afford a nice bag, or a pair of sunglasses’ or job title. It’s crass and unreasonable. Base it on a variety of criteria. IMHO Definitely don’t take UK standards. Thx CroweDM I Am So Old, I remember when loose credit rules created a Housing bubble & then a Financial crisis which resulted in trillions in bailouts for the banks paid by the taxpayer. I am also so old I know THIS time will be different.
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The Government wants to make it easier for you to get a mortgage — but there's a catchThe Federal Government wants to relax lending rules, which would make it easier for Australians to access personal loans and mortgages. Cant wait to get in debt slavery for 40 years to appreciate the property values of jews boomers and Chinese It sounds like something to protect banks, not help people get into a home loan. Sounds like Gesara to me... the storm is coming
Source: abcnews - 🏆 5. / 83 Read more »
Can carbon farming really reduce emissions?The Federal Government's new energy policy has identified carbon farming as a key method of reducing emissions, but there may be problems with the strategy. I want to move to the country, buy some land and farm me some carbon.... Is that Elton John on the right? And Bashar Al-Assad on the left?
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The government's move to trash lending rules during a recession is a recipe for disasterWith restrictions relaxed, more and more people desperate to pay their debts will dig themselves into even deeper holes, writes adele_ferguson. | OPINION auspol lending bank banks adele_ferguson The construction stimulus package is literally confined to give incentives to people who can't really afford loans to get loans! Now this!! I smell a banking rat. adele_ferguson That's some response to an economic crisis, boost your mates in the banking and gas industries and cut the measures that help families and individuals. This govt is ethically unsuited to the challenges we face. adele_ferguson Well this is odd. After the GFC we legislated to make banks ‘unquestionably strong’ and responsible lending laws to protect us against another crisis. Now that we have a crisis we decide we need to dump both of these !
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Businesses can keep trading: Bankruptcy law changes to keep firms openBusiness owners will have a faster way to fend off financial collapse using new bankruptcy laws giving them more control over how they restructure their debts | CroweDM CroweDM The more zombie companies the better..... CroweDM Does Anthony Albanese still want to tax Business? Investment Tax 2019 Family Business Tax 2019 Albo what is your policy today?
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