Westpac Banking Corp (WBC.AX)
19 Aug 2019
* Dividend cut on cards to meet capital requirement - analyst
Aug 19 Australia's Westpac Banking Corp said on Monday its stressed assets rose in the third quarter, as regulators relaxed mortgage lending rules to boost volumes and offer a leg up to the economy.
SYDNEY An Australian court on Tuesday dismissed allegations that Westpac Banking Corp had approved mortgages without adequate credit checks, dealing a blow to the regulator's efforts to toughen lending standards.
* Ruling comes as regulators push for tougher lending rules (Adds quotes from academic, background)
SYDNEY, Aug 13 An Australian court dismissed a case by the corporate regulator against Westpac Banking Corp on Tuesday over claims the country's second-largest lender used inappropriate standards to approve thousands of mortgages.
Australia's financial watchdog fined Westpac Banking Corp and two of its units on Thursday for failing to report data to the watchdog on time, weeks after a government report called on the regulator to take tougher action on misconduct.
* Westpac: processes in place to meet future disclosure timetables (Adds Westpac comment, details on APRA fine)
Aug 8 Australia's financial watchdog fined Westpac Banking Corp and two of its units for failing to report data to the watchdog on time according to their legal obligations.
New Zealand's consumer watchdog said on Tuesday that Westpac Banking Corp's local arm has agreed to refund 93,000 customers who have been incorrectly charged for services.
SYDNEY, July 30 A push by Australian regulators to tighten lending rules risks slowing down Australia's sluggish economy even further, the chief executive of Westpac Banking Corp said on Tuesday.