ASIC bank crackdown as borrower woes mount
The country’s financial services watchdog is cracking down on banks that fail to properly support customers struggling with mortgage repayments, as the strain of debt consumes more Australians.
In the first half of the year, ASIC was successful in 95 per cent of its civil and criminal prosecutions. (Image source: Shutterstock.com)
At a time when more Australian families and borrowers are struggling to make ends meet, the country’s financial services watchdog is cracking down on banks that fail to properly support customers facing financial hardship.
The Australian Securities and Investments Commission (ASIC) has completed its review of 15 banks outside the four major banks on their scam prevention, detection and response activities.
ASIC Deputy Chair Sarah Court on Monda…
