Farm families forgotten in ANZ loan

Original article by Sue Neales
The Australian – Page: 2 : 26-Jun-18

The banking royal commission’s current hearings are focusing on how banks such as the National Australia Bank and ANZ treat their farming clients. Ben Steinberg from ANZ, which acquired $A2.4 billion worth of farm loans from Landmark Financial Services in 2010, has conceded that it did not take into account the human impact of calling in bad loans and evicting farm families. He said that ANZ should have been more conscious of the fact that many Landmark customers were not used to dealing with a large bank.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, LANDMARK FINANCIAL SERVICES, RABOBANK AUSTRALIA LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, RURAL BANK LIMITED, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN

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