Finsec Disapproves of ASB’s Reverse Mortgage Offer
Monday, 30 August 2010 07:00
ASB has made the move to offer reverse mortgages and Finsec, the finance workers’ union, is speaking out against the decision. Finsec wants a code of ethical lending to be established as well as a consumer protection agency to keep an eye on lenders. The union believes that ASB’s latest move is proof that there need to be further rules around bank lending. Finsec has also claimed that this is a sign that banks have learned nothing from the financial crisis and recessions.
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