Half Westpac mortgages still interest-only

October 11, 2017

Westpac CEO Brian Hartzer says he is comfortable with the bank's level of interest-only loans.

Westpac chief executive Brian Hartzer says money laundering is a scourge on society and combating it is a huge challenge for the whole banking industry.

Commonwealth Bank is facing Federal Court action over allegations it breached anti money-laundering laws, and Mr Hartzer told MPs in Canberra that the issue affected all lenders.

"It's a real scourge on society and a challenge for the whole economy," Mr Hartzer.

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