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.
8 February 2019: Queensland cattle farmers affected by flooding are being urged to contact their banks, who have special teams ready to help and provide a wide range of assistance.
5 February 2019: Customers affected by the recent floods in Queensland or bushfires in Tasmania are able to access assistance from their bank, which can include deferred loans payments, waiving fees and charges and assisting with debt consolidation.
24 January 2019: In its submission to the first Privacy Impact Assessment of the Consumer Data Right released today Australia’s banks back strong privacy settings to protect customers and have identified the pilot, due to commence this year, as an important test.
19 December 2018: Today’s announcement of the removal of the 30% benchmark for new interest-only residential mortgages will allow all banks to offer more choice for customers, leading to an increase in competition across the industry, particularly for smaller and regional banks.
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.
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.
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.
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.
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.
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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