Disputes About Banking
Disputes about banking fall into 3 categories:
- A bank has approved a loan that should not have been approved because the loan could not be readily repaid or because it was otherwise unsuitable for the borrower. This is called irresponsible lending.
- A person has unfairly agreed to guarantee a loan made by a bank to another person.
- A mortgage broker has submitted false information to cause a loan to be approved.
The Australian Financial Complaints Authority has wide powers with respect to banking disputes including being able to direct that a loan or guarantee is invalid and ordering that compensation be paid to the borrower.
Huggins Legal has extensive experience in dealing with these types of claims and achieved a number of successful outcomes on behalf of clients.