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Financial Abuse Industry Guideline

22 May 2021

This industry guideline:

  • Explains what financial abuse can look like and how it can impact customers and a bank’s relationship with their customers; and
  • Outlines a framework for banks to raise awareness and promote consistent arrangements to deal with suspected cases of financial abuse

This guideline reflects good industry practice, and the ABA encourages members to use the principles in this guideline to put in place internal processes, procedures, and policies.

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Transcript
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Chris O’Keefe    When it comes to cash, 424 bank branches have closed, or 11% of Australia’s overall branches. This included 122 branches in regional and remote areas plus a further 718 ATMs were shut down or removed during the same period. So they make it hard for us to use cash, both businesses and banks,… Read more »

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Transcript
Anna Bligh interview on ABC Newcastle about the ABA’s financial hardship campaign.  
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Jenny Marchant    Your biggest cost is probably your rent or your mortgage, and they’re probably also the bills you’ll move heaven and earth to pay if you have to, because we all need somewhere to live. But the number of mortgage holders struggling with payments is increasing. If you find yourself in that position in… Read more »

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