Homeowners brought to their knees over lending practices

Borrowing money in Australia is about to get a whole lot harder.
That's the message coming from banks, analysts and economists as the Royal Commission sends shock waves through the industry.
It's the inquiry almost no-one in government thought was necessary, but it's revealed just how bold and brazen the big banks had become, while financial institutions are scrambling to tighten their lending rules.
7.30 has dug into a culture where borrowers are being given loans they never had a hope of paying back.
Ashlynne McGhee reports.
Read more here:

Australia,banking,royal commission,lending,finance,mortgage,borrowing money,money,banks,financial institutions,economy,finance industry,inquiry,lending rules,borrowers,ABC,ABC News,Australian Broadcas