ANZ to answer claims of dodgy lending

ANZ to answer claims of dodgy lending

ANZ to answer claims of dodgy lending ANZ Bank has been sued for alleged breaches of the credit act by the corporate regulator, which said the bank used cleaners and real estate agents as third party “introducers” to sell mortgages but failed to conduct proper checks on information supporting the loans. ANZ is the second major bank to face claims of irresponsible lending after the Hayne royal commission identified dangers with banks using outside parties to send them mortgage business. The case relates to 74 home loans issued between 2016 and 2018 that are alleged to have contravened the Consumer Credit Act, as well as further claims that ANZ did not meet its general conduct obligations under the Credit Act. Some of the alleged misconduct occurred until June 2020. ANZ …
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