APRA backs banks’ right to profits

The banking regulator has backed the banks’ right to make a profit and take enforcement action when borrowers can’t repay loans, in a powerful defence of the industry delivered to the Hayne royal commission.

APRA backs banks’ right to profits

The Australian Prudential Regulation Authority has also reminded Commissioner Ken Hayne that sometimes tough decisions have to be made by the banks to protect depositors and ensure the financial stability of the Australian economy.

Read the full article at the Australian Financial Review.

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