22 June 2021
These guiding principles outline measures in place to help customers understand Lenders Mortgage Insurance (LMI), understand the default / LMI claim process, and the consumer protections in the shortfall debt recovery process. These voluntary principles complement the provisions of the Banking Code of Practice (the Code) set out in Chapter 19 (LMI), Chapter 41 (we will try and help you if you are experiencing financial difficulty), and Chapter 43 (when we are recovering a debt).
Latest news
ABA CEO Anna Bligh: Well, here we are on the front line of the fight against scams. This is one of Australia’s largest banks, and the team of people here talking with customers, trying to protect customers and fight against scammers. Today, here we are launching a new piece of technology called Confirmation of Payee…. Read more »
Australian banks have today unveiled their latest scam fighting technology, with the launch of Confirmation of Payee – a new name-matching service designed to help protect customers from being tricked into sending money to criminals. Banks have invested $100 million in this new technology which is a key initiative of the sector’s Scam-Safe Accord –… Read more »
Former Federal Finance Minister and Senate Leader, The Hon. Simon Birmingham, will join the Australian Banking Association as Chief Executive Officer. ABA Chair and National Australia Bank CEO Andrew Irvine today announced Mr Birmingham’s appointment, replacing retiring CEO, The Hon. Anna Bligh AC. “We are delighted to have Simon lead our industry and help ensure… Read more »