Banks inquiry's first focus on lending

Banks inquiry's first focus on lending


Former High Court justice Kenneth Hayne will preside over the banks royal commission.

Former High Court justice Kenneth Hayne will preside over the banks royal commission.

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Inappropriate lending practices will be the focus of the banking royal commission's first public hearing.

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Inappropriate lending practices across home loans, car loans and credit cards will be the focus of the banking royal commission's first public hearing.

Evidence before the royal commission suggests consumers have not always enjoyed the right to be treated honestly and fairly when it comes to home loans, senior counsel assisting Rowena Orr SC said.

The first round of public hearings is expected to begin in about a month.

Commissioner Kenneth Hayne QC said public submissions form an important part of the inquiry's work, but it does not have the time to examine every case of misconduct in the financial services sector.

"I understand fully that those affected by what they considered to be misconduct want their complaints recognised and considered and want those responsible held to account," Mr Hayne said on Monday.

He said he recognised the central importance of public discussion and examination of the issues of concern.

"But I have to say that the commission will not have time to publicly examine every case of alleged misconduct," Mr Hayne said at an initial public hearing on Monday.

Australian Associated Press

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