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Banks’ expenses crackdown to slow loan growth

A move by banks to demand far more detail about mortgage customers’ living expenses would likely crunch the maximum amount many people can borrow, potentially slowing economy-wide credit growth, the experience of Bank of Queensland suggests.

Banks’ expenses crackdown to slow loan growth
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The royal commission is adding to pressure on banks to more thoroughly verify the expenses declared by customers on their home loans, after hearings last month questioned whether banks were complying with responsible lending laws.

Read the full article on The Age.

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