It was interesting the article did say these loans were given to foreign interests and that compensation may end up being given. Not a good look at all and I think all the big banks will be colored by this.
Apparently information on borrowers was given by third parties for these loans.
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The scandal surrounds the bank’s so-called Introducer Program. Under that program, NAB pays commissions to businesses, such as financial planning and real estate agencies, that refer customers who then take out a mortgage.
The information provided for the loan-approval process often came from the third-party referrers rather than the customers, Business Daily believes.
Many of the loans in question are believed have been given to overseas investors who bought property in the red-hot Victorian and New South Wales housing markets.
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http://www.heraldsun.com.au/busines...s/news-story/02ffffafd63866fbc2f3e4165471bbf3
NAB money laundering and counter-terrorist financing laws, page-2
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Last
$33.51 |
Change
-0.490(1.44%) |
Mkt cap ! $103.9B | |||
| Open | High | Low | Value | Volume |
| $33.90 | $33.90 | $33.47 | $115.5M | 3.433M |
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| No. | Vol. | Price($) |
|---|---|---|
| 4 | 6861 | $33.50 |
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| Price($) | Vol. | No. |
|---|---|---|
| $33.55 | 10759 | 1 |
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| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
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Last
$33.56 |
Change
-0.490 ( 1.32 %) |
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| $33.84 | $33.89 | $33.48 | 743454 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
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