WBC westpac banking corporation
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Sept 4 (Reuters) - Westpac Banking Corp (WBC) : WESTPAC AND...

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    04/09/18
    15:00
    Post #: 35405810

    Sept 4 (Reuters) - Westpac Banking Corp (WBC) :

    • WESTPAC AND ASIC SETTLE RESPONSIBLE LENDING PROCEEDINGS
    • SETTLEMENT IS SUBJECT TO COURT APPROVAL.
    • HAS NOT MADE ADMISSIONS THAT ANY OF ITS LOANS WERE UNSUITABLE FOR CUSTOMERS AT TIME OF THEIR ORIGINATION
    • IMPACT OF SETTLEMENT WILL BE PROVIDED IN WESTPAC'S 2018 FULL YEAR RESULTS
    • WESTPAC AND ASIC WILL MAKE AN APPLICATION TO FEDERAL COURT FOR APPROVAL OF THIS SETTLEMENT
    • WILL ACKNOWLEDGE THAT ITS AUTOMATED SERVICEABILITY ASSESSMENT DID NOT MEET REQUIREMENTS OF NCCP ACT IN TWO WAYS
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