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The Australian government has announced it will wind back responsible lending laws, making it easier to access credit – Business Insider Australia

In an effort to kickstart the economy, the Morrison government will axe responsible lending laws to make it easier to get a loan.

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  • The federal government is loosening credit restrictions in an attempt to encourage lending.
  • On Friday Treasurer Josh Frydenberg announced the responsible lending laws would be would back, having become “an overly prescriptive, complex, costly, one-size-fits-all regime”.
  • There is some anxiety over the consequences of encouraging greater lending during a recession.
  • Visit Business Insider Australia’s homepage for more stories.

In an effort to kickstart the…

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