By Karen Ruiz For Daily Mail Australia
Published: 03:48 GMT, 21 February 2019 | Updated: 04:10 GMT, 21 February 2019
Westpac bank has been slapped with a class action lawsuit after allegedly issuing loans to customers who could not afford to repay them.
In a suit brought on by law firm Maurice Blackburn on Thursday, the bank is accused of violating its responsible lending obligations by failing to properly assess its clients' finances.
The bank is the first of Australia's big four financial institutions to be sued after the Hayne Royal Commission found evidence of dishonest practices and misconduct within the industry.
Michelle and Ian Tate, from Queensland, are named as the lead plaintiffs in the suit, which represents customers who may have been irresponsibly approved for a loan after 1 January 2011.
Westpac Bank client Michelle Tate is the lead plaintiff in the class action lawsuit along with her husband Ian. Above she is comforted by principal lawyer Ben Slade during a press conference in Brisbane on Thursday
The Tates claim Westpac granted them a $1.8million mortgage to finance five homes in 2008, 2013, and 2014, despite having only one source of income, The West Australian reported.
The couple claims they are now worse off than they were prior to getting the loan and are living 'pay cheque to pay cheque.'
'Everything we were trying to achieve is lost,' Ms Tate said.
'We have gone backwards after years of hard work and
