ASIC releases expectations of lenders in dealing with expiring COVID-19 loan deferrals
- Published 17.08.2020
Key Takeaways
ASIC has published its expectations of retail lenders in dealing with expiring loan deferrals (as a result of COVID-19) over the next few months.
Lenders are expected to do all that is necessary to ensure credit activities are performed 'efficiently, honestly and fairly.' In doing so, lenders are asked to put in place processes to allow for an orderly transition that delivers fair and appropriate outcomes for customers.