The fintech has developed technology to automate compliance with responsible lending laws,and says other lenders could do the same thing.
The debate about the Morrison government’s proposed repeal of responsible lending laws is being framed in a context that no longer exists.
Responsible lending obligations are needed more than ever now that mortgage lending is surging.
Consumer groups and some economists have warned a government plan to axe responsible lending rules could add more fuel to the housing boom.
Lenders say the current system is forcing people to provide too much detail about their living expenses,such as how much they spend on haircuts or food deliveries.
It's a great pity that the banks are weighing in so publicly to support the rollback of our responsible lending laws,just when they’ve done so much during the pandemic to rebuild trust.
The repeal of responsible lending obligations for almost all forms of consumer credit is short-sighted and poorly thought out.
It needs to be easier and simpler for Australians to get a loan and survive the worst recession in a hundred years.
Financial rights lawyers are warning planned changes to responsible lending obligations could make financial abuse worse and more frequent.
Labor is making a bid to ban rent-to-buy schemes from taking payments out of people's welfare cheques before the money hits their bank accounts.
The government has cut red tape to increase lines of credit through the pandemic. But investors say demand for loans is low as unemployment and uncertainty remain high.