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ASIC says it is probing three lenders for credit breaches

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The corporate regulator says it is investigating three lenders for possible breaches of consumer credit codes just weeks after it accused banks of erecting “unnecessary barriers” for customers getting help when applying for hardship protections.

“We have three matters under formal investigation, specifically in relation to hardship,” Sarah Court, a deputy commissioner at the Australian Securities and Investments Commission, told a Senate hearing on Tuesday.

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Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au

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    Original URL: https://www.afr.com/companies/financial-services/asic-says-it-is-probing-three-lenders-for-credit-breaches-20240604-p5jj4v