Westpac fined $35 million for breach in responsible home loa…
[ad_1] The big bank agreed to pay the fine admitting to using its ‘automated decision system’ to give out loans. Westpac admitted to using the Household Expenditure Measure (HEM) to calculate living costs, breaking responsible lending provisions of the National Credit Act. The Australian Securities and Investments Commission ( ASIC) believes this would be the…