Australia’s securities regulator sues ANZ over home loan referrals By Reuters

© Reuters. FILE PHOTO: Commuters walk past an ANZ bank branch in Sydney, Australia April 23, 2018. REUTERS/Edgar Su

(Reuters) – The Australian Securities and Investments Commission (ASIC) on Friday said it commenced legal proceedings against Australia and New Zealand Banking Group for home lone referrals under its ‘introducer program’.

The regulator added that between June 2016 and March 2018, ANZ breached consumer protection credit laws by accepting customer information and documents from introducers and other unlicensed individuals, when this was not allowed.

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