Evil Anna pushes to restore mortgage fraud

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She’s probably Australia worst public policy sell out. And she’s earning her $600k plus, via Banking Day:

The Australian Banking Association is preparing to push back against ASIC’s plan to make responsible lending guidelines more prescriptive, and will argue for the maintenance of the principles-based approach when the regulator holds public hearings on the issue over the next two weeks.

ABA chief executive Anna Bligh said one of the big lessons of the Hayne royal commission was that financial institutions needed to take the individual needs of customers into account.

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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.