Credit card debt to take 138 years to pay

Original article by James Frost
The Australian Financial Review – Page: 9 : 23-Mar-18

Commonwealth Bank executive Clive van Horen has conceded that the bank erred in the case of problem gambler David Harris. Harris has told a public hearing of the banking royal commission how the bank had continued to give him credit cards and had extended his credit limit even though he had admitted to being a problem gambler. Van Horen told the commission that the bank has since tightened its rules in relation to giving credit to customers who appear to have gambling problems.

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COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY

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