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The days of being asked by the big banks about every dollar of your expenditure from Uber Eats to Netflix to secure a loan to buy a home or a small business could soon be over.In the biggest shake up of credit laws in decades, the Morrison Government is set to encourage faster, easier loans to get the economy moving and help first home buyers get onto the property ladder.For those wondering whether it’s wise for Australia to adopt a “let it rip” approach to credit during a recession when our personal debt is among the highest in the world, it looks like we’re about to find out.In the wake of the 2007‘s global financial crisis and the Royal Commission into the Banking sector, Treasurer Josh Frydenberg will argue banks have become too risk averse on lending.“As Australia continues to recover from the COVID-19 pandemic, it is more important than ever that there are no unnecessary barriers to the flow of credit to households and small businesses,” Mr Frydenberg said.