Westpac conducts exorcism of jingle mail haunting

Tuesday 4 September 2018

Can banks be responsible lenders while using a standard benchmark to approve home loan applications?

This is the question that will be tested from Monday as the corporate regulator and Westpac head to the court over the bank’s use of the household expenditure measure (HEM) in automatically approving home loan applications.

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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.