Westpac recruits credit agencies to probe borrowers

Wednesday, 21 March 2018

Via the AFR:

Westpac Group is set to use three leading global credit agencies to blitz ‘liar loans’ in response to government and regulatory pressure on lenders to boost loan scrutiny.

Westpac will tell borrowers’ their credit information will be screened by Equifax, Experian and illion, which is formerly Dunn and Bradstreet Australia and New Zealand, some of the world’s major providers of credit reports and credit scores.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.