Proposed Changes to Responsible Lending Laws in Australia – A Shift of Responsibility From Lender to Borrower

Proposed changes to responsible lending regulations hit the Australian federal Senate the week before last. Since the 2008 – 2009 Global Financial Crisis, Financial regulation and responsible lending laws have been largely combative, with inflamed tensions between bankers and lawyers. The reforms were first announced in September 2020, in the hopes of boosting Australia’s credit…

British Expats in the EU Face Borrowing Block

British expats living in the EU have faced a block on borrowing from some British lenders following the UK’s exit from the European Union.  Lenders including Newbury and Marsden Building Societies have adopted the policy however have signalled that the restrictions may only be temporary measures, depending on ongoing negotiations between the UK and EU. …

Regulatory Predictions for 2021

For much of 2020 the focus for lending regulators has been the coronavirus pandemic and assisting borrowers through the crisis. As we move into the new year that focus is set to continue however there is likely to be the chance for new developments that have been put on hold thanks to the restrictions. The…