Thursday, May 24, 2018

Bank of Queensland admits error on approving franchise loan which went into immediate default

The financial services Royal Commission has heard that the Bank of Queensland mishandled a small business loan for a teacher to buy two Wendy's franchises which went into immediate default. 

Away from the Royal Commission, ABC's Peter Ryan says Westpac has had a partial victory after being accused of manipulating the bank bill swap rate. 

The Federal court says while Westpac breached the ASIC Act four times, ASIC was unable to prove the market manipulation or market rigging.

Read the key except from the Westpac BBSW ruling from Justice Beach

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