Westpac hit with class action over 'irresponsible' home loans

Westpac will face a class action in the Federal Court, with the bank accused of irresponsibly granting home loans to people who couldn't afford them.

1 min read

Published 21 February 2019 3:18pm

Source: AFP, SBS

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A class action has been launched against Westpac on behalf of mortgage holders.

It alleges customers were given unsuitable loans by the bank in breach of its responsible lending obligations.

The action relates to people who took out mortgages from the first of January 2011.

It is the first class action against a big four bank since the publication of the Hayne Royal Commission Report.

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