Little banks predatory too

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It’s not all the big bastards, via AFR:

Banking regulator APRA warned specialist agribusiness lender Rabobank in November 2017 that it was writing too many lower quality loans after one third of new business was found to be outside the bank’s own guidelines.

APRA also said it was concerned the bank did not seem to understand who it was writing the loans to, following a rise in the number of problematic loans unhelpfully categorised by the bank as “other” in correspondence published by the Hayne royal commission late last week.

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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.