The Australian Securities and Investments Commission (ASIC) has rejected claims from a number of consumers of bank misconduct in commercial lending, stating that there is not enough evidence to take legal action. The regulator’s submission comes after a number of consumers made complaints to the inquiry over banks’ unfair ability to ability to default borrowers who have not missed a repayment, has . In its decision on Thursday, the ASIC said it had received complaints about alleged breaches by banks including Westpac Banking Corporation, National Australia Bank (NAB) and ANZ Bank, which were made between 2009 and 2013.
The Australian Securities and Investments Commission (ASIC) has rejected claims from a number of consumers of bank misconduct in commercial lending, stating that there is not enough evidence to take legal action. In its decision on Thursday, the ASIC said it had received complaints about alleged breaches by banks including Westpac Banking Corporation, National Australia Bank (NAB) and ANZ Bank, which were made between 2009 and 2013.