Bankers press Senate on responsible lending
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The federal government is struggling to win Senate support to dump responsible lending laws, despite reassurance from National Australia Bank chief executive Ross McEwan that the proposed changes will not lead to more risky bank lending.
Bank chief executives have been at Parliament this week meeting senators to discuss the government’s proposed overhaul of credit rules, as well as how banks will deal with home and small business borrowers still hurting from social distancing rules and international border closures.
NAB CEO Ross McEwan says axing responsible lending laws won’t cause a jump in risky bank lending.
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