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Westpac Bank

Westpac Bank Victims

Westpac Refuses to Pay Rightful Insurance Claim

Published in Westpac Bank Victims
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Westpac Refuses to Pay Rightful Insurance Claim

We have lost absolutely everything, this has ruined our lives, dealing with this bank St George and Westpac Insurance, has been a living hell, we hope justice will prevail somehow.

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Sorry won’t cut it when banks don’t recognise the problem

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Westpac chief executive Brian Hartzer speaks during the bank’s AGM in Perth on Wednesday.Picture: AAP

Behind the public mea culpas, it’s clear that plenty of very smart but disconnected people just don’t get it. There was nothing Ken Henry about Westpac chairman Lindsay Maxsted when he fronted this week’s annual meeting of the bank in Perth.

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Judge tears up $35m settlement between ASIC and Westpac in lending case

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Westpac's admitted contravening the law. CREDIT:JAMES ALCOCK

The corporate regulator and Westpac Banking Group have been forced back to the drawing board after the Federal Court threw out the bank’s offer to pay a $35 million settlement after it admitted contravening responsible lending laws.

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Westpac plans to 'dump' risky property investors as rates rise and returns fall

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Westpac Group is asking higher-risk borrowers to find another lender. Michele Mossop

Westpac Group, the nation's second largest lender, is giving risky property investors less than a month to find another lender amid growing concerns about the impact of rising rates, falling values and oversupply.

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Judge balks at Westpac's record $35m fine over irresponsible lending practices

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Federal court judge Jye Perram took issue with how Westpac and Asic had arrived at the $35m fine after the bank admitted to irresponsible lending practices over home loans. Photograph: Joel Carrett/AAP

Westpac and Asic had agreed to fine after bank conceded it wrongly assessed ability to repay mortgages. A federal court judge has balked at Westpac’s offer to pay a record $35m fine over its irresponsible lending practices for home loans.

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Westpac hit with $35m penalty to settle irresponsible home loan case with ASIC

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PHOTO: ASIC used seven case studies to launch its Federal Court claim against Westpac for irresponsible home lending. (Reuters: Steven Saphore)

Westpac has reached a settlement with the corporate regulator after admitting its automated loan assessment system breached responsible lending laws, issuing more than 10,000 home loans that should not have been automatically approved.

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Criminal allegations and complaint against Westpac Bank Directors and CEO sent to NSW Police

Published in Westpac Bank Victims
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Criminal allegations and complaint against Westpac Bank Directors and CEO sent to NSW Police

The Directors and CEO of Westpac are facing a likely criminal investigation after Lawyers acting on behalf of fraud victims Lisa Anne Lambert and Thomas Patrick Hayes made a formal complaint to Detective Inspector Aurthur Katsogiannis who is the Commander of the NSW Police Force Cybercrime Squad.

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Westpac lost files of hundreds of clients, whistleblowers say

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BT Financial, Westpac’s wealth management arm, lost the files of hundreds of clients who had sought legal advice. Photograph: Joel Carrett/AAP

Exclusive: BT Financial Group, the bank’s wealth management arm, reportedly discovered the loss while digitising its records. Westpac’s wealth management arm lost the files of hundreds of customers it was supposedly providing with financial advice, whistleblowers have revealed.

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Westpac adviser trashed a couple’s retirement dream with bad advice

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Jacqueline McDowall's retirement plans were ruined by Westpac advice. Photo:AAP

Westpac ruined the retirement dreams of Melbourne couple Jacqueline and Hugh McDowall with bad advice that saw them sell their home on a false promise they could borrow to buy a bed and breakfast, the banking royal commission has heard.

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Banking royal commission: Westpac's 'unacceptable' car loan policies under spotlight

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Photo: Westpac says it has tightened its credit policies for car loans since 2012. (Will Burgess, file photo: Reuters)

Westpac has told the banking royal commission a Bank of Melbourne car loan granted to a carer in 2012 which she could not afford to pay back would not have been approved today.

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