Essentially a weak reply with no new information or held back information from their original report.
Trying to throw mud at a company with a legal structure that meets regulatory requirements for its lending business. I feel the author is trying to generate a ground swell of support to instigate regulatory change and influence public sentiment.
Until the regulator decides to modify the framework or a legal case is constructed, presented and argued, I don't see any real threat to their lending business due to this report. The idea that because of their lending business Westpac would remove its funding towards its PDL business is laughable and shows a total lack of understanding to the relationships debt collectors have with our large loan providers.
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