Court rejects Australian regulators case against Westpac.

BANKING AND CREDIT NEWS-June 26, 2020--Court rejects Australian regulators case against Westpac

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Global Banking News - 26 June 2020

An Australian appeals court has on Friday rejected a regulator lawsuit against Westpac Banking Corp (NYSE: WBK).

The court ruled that the firm's method for determining whether homebuyers could service their mortgages is in accordance with the law. The case against the bank was filed after a financial misconduct inquiry in 2018 and 2019 that accused the banking sector of escalated fees and irresponsible lending.

The Australian Securities and Investments Commission (ASIC)...

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