Mortgage Business
RLO changes could boost turnaround times: Westpac By Malavika Santhebennur 16 April 2021
The major bank’s CEO has reiterated that responsible lending changes could simplify the lender’s processes and improve mortgage approval times.
Westpac CEO Peter King appeared before the economics standing committee hearing during their ongoing Review of the Four Major Banks and other Financial Institutions on Thursday (15 April), where he was asked what impact the changes to the responsible lending obligations (RLO) would have on Westpac’s customers, including potential future customers.
The National Consumer Credit Protection Amendment (Supporting Economic Recovery) Bill 2020 focuses on amending the credit laws so that they remove RLOs and extend the best interests duty to more credit assistance providers, among o
ASIC to enforce BID under proposed RLO changes
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