Approaches to Responsible Lending & Hardship During COVID-19
As the COVID-19 pandemic continues to unravel, destabilising the global financial system and sparking disruption across the Australian economy, lenders are forced to respond rapidly to a sudden influx of relief requests from financially stressed borrowers. These challenges for businesses are compounded by ASIC’s enforcement response - to reprioritise its regulatory efforts on supporting consumers and businesses through these unprecedented circumstances. Crucially, lenders must now find a sustainable outcome, navigating a balance between supporting vulnerable borrowers, preserving cashflow and mitigating regulatory risk.
This webinar provides expert insights from Deloitte, Dentons and Clayton Utz, on what members should be doing to ensure flexible and accessible credit options are available to customers and best practice for supporting customers in financial hardship.