Bloomberg Westpac Banking Corp. agreed to pay a A$35 million ($25 million) civil penalty after admitting it breached responsible-lending laws by failing to properly assess whether some customers could afford to repay their mortgages. In a settlement ahead of court, the regulator said in a statement that Westpac’s automated loan approval system had failed to use customers’ actual living expenses ...

Bloomberg Russia’s central bank is setting the stage for an increase in interest rates as a weakening ruble fans inflation. Just five months after it stopped easing monetary policy, the Bank of Russia raised the prospect of its first hike in borrowing costs since 2014. The country’s latest bout of currency weakness is combining with a worsening outlook for inflation ...

Bloomberg The European Union won’t rush to enhance market access for financial firms outside the bloc, a senior German official said, pushing back against key UK government demands in the Brexit negotiations. Expanding EU “equivalence” rules, which can open the single market to non-EU firms, to new areas such as banking is unlikely anytime soon, said Levin Holle, director general ...