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Media releases
The Australian Banking Association is the information source for the news media on the Australian banking industry, providing information, analysis and context on industry issues.
- Chair and Deputy Chair reappointed for another term
- 5 December 2018: Today the Australian Banking Association Council held its Annual General Meeting, re-electing Shayne Elliott as Chair and David Carter as Deputy Chair for another 12 months.
- Banking products to be designed with accessibility in mind
- 30 November 2018: Australia’s banks have today committed to new principles to ensure accessible banking for the four million Australians living with disability. These principles have been developed in consultation with disability advocates and the banking industry.
- Banks welcome ‘one stop shop’ for resolving disputes
- 31 October 2018: The newly created Australian Financial Complaints Authority, to begin operation on November 1, is an important step to streamlining dispute resolution, making it easier to access and easier to understand for customers.
- Ending fees for no service, grandfathered payments
- 10 October 2018: Australia’s banks will change the Banking Code of Practice to overhaul the way they manage a customer’s estate when they have died and end ‘fees for no service’ across the industry. Further to this they will seek new legislation to end grandfathered payments and trail commissions for financial advisers.
- Taskforce will coordinate help for drought affected communities
- 10 October 2018: Today’s announcement of the new Drought Finance Taskforce, bringing together banks, government departments, elected representatives and peak bodies is an important vehicle to share information and identify ways banks can better assist Australia’s farmers and their local communities doing it tough.
- Interim Report of the Royal Commission
- 28 September 2018: Today’s release of the interim report of the Royal Commission into Financial Services, Insurance and Superannuation, marks a day of shame for Australia’s banks.
- ASIC review into breach reporting obligations
- 25 September 2018: Today’s release of the ASIC report into compliance with breach reporting obligations shows that banks need to identify, report and fix issues more quickly to regain customer trust and ensure they comply with the law.
- Help on offer for farmers affected by fruit sabotage
- 19 September 2018: Australia’s fresh fruit farmers, including strawberry farmers, affected by the ‘fruit sabotage’ issue are being urged to contact their bank to access the assistance on offer which can include deferred loan payments, waiving fees and restructuring loans.
- New Banking Code standards should be adopted by entire industry
- 7 September 2018: The new Banking Code of Practice standards, recently approved by ASIC, should be adopted across the entire industry and include banks which aren’t members of the Australian Banking Association (ABA) such as credit unions, building societies and other lenders to ensure there are no gaps in protections for customers.
- No more volume-based bonuses for mortgage brokers
- 28 August 2018: Australia’s mortgage broking industry has ended the use of volume-based bonus commissions, campaign-based commissions, and other volume-based bonus payments. This is one of the main findings of an interim report prepared by the Combined Industry Forum.
What’s new
- A sensible path forward for Open Banking
10 May 2018 - Open Banking will allow customers, at their request, to share their personal information with other financial institutions to allow them to find a better deal on expenses such as electricity bills, telecommunications and other items.
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ABA blog
- Customers at centre of mortgage industry overhaul
- Christine Cupitt, Executive Director - Policy, Australian Banking Association
Read more 1 Feb 2018
