Yes, according to the Federal Treasurer, Josh Frydenberg.
Last Friday he gave notice to ASIC that home loans and investment loans will be overseen by APRA as from 1 April 2021, and that responsible lending rules will be watered down or scrapped. His aim is to 'remove barriers to the flow of credit' and make loans easier to obtain.
As expected consumer advocates are resisting the proposals saying that watering down lending rules will encourage predatory lending.
But where's the evidence?
I decided to survey some recent decisions and found that the current responsible lending rules are fair to both borrower and lender.
My conclusion is that the rules should be kept but simplified. To see my survey of the decisions and for more information