The Australian Banking Association (ABA) is the information source for the news media on the Australian banking industry, providing information, analysis and context on industry issues.
The ABA plays an active role in the public dialogue on banking and financial services, providing commentary on broader industry issues and facilitating access to other sources of information.
For media inquiries contact [email protected] or 0475 741 007.
Today’s authorisation by the Australian Competition and Consumer Commission (ACCC) of changes to the Banking Code of Practice, as recommended by Commissioner Hayne in his final report, is an important step in further strengthening protections for customers. Changes recommended, and now authorised by the ACCC, include: Banning charging default interest on distressed agricultural loans Providing inclusive and accessible banking services to… Read more »
New guidelines to be applied by Australia’s banks to debt collection agencies have been released today, providing a major step up in safeguards to ensure vulnerable customers are protected. The new guidelines outline the process banks must follow before they sell any debt and also what happens once that debt is sold. This includes: Proactively… Read more »
Australians facing financial difficulties as a result of fires raging across New South Wales and Queensland are being encouraged to contact their bank for assistance when they are able to do so. CEO of the Australian Banking Association Anna Bligh said that banks have hardship teams ready to assist customers affected by the fires. … Read more »
On 17 October the ABA and a coalition of eight advocacy organisations held the Parliamentary Launch of the #StopElderFinancialAbuse campaign. The ongoing campaign has been run together with our partners Bauer Media, publisher of well known magazines such as the Australian Women’s Weekly.
The Stop Elder Financial Abuse campaign today held a Federal Parliament launch to brief Members and Senators on the actions needed to tackle the growing problem. Speaking at the launch Attorney General Christian Porter announced his plan for the next Council of Attorneys General meeting to set baseline standards of a national model of Power… Read more »
TRANSCRIPT E&OE 14 October 2019 Media Conference Parliament House Canberra ANNA BLIGH: Australia’s banks stand ready to assist the ACCC with this inquiry. Our banks are no strangers to public scrutiny and they look forward to providing information that will shed more light on the many complex factors that go into the determination of interest rates on Australian mortgages. QUESTION: Why have you passed on so little of the 75 percentage… Read more »
Australia’s banks stand ready to assist the ACCC in this inquiry. Banks are no stranger to public scrutiny and look forward to the opportunity to cast more light on mortgage pricing and the many important factors that influence the setting of interest rates. The first priority of Australia’s banks is the implementation of the Royal… Read more »
Competition between banks remains strong, with millions of Australians switching banks for home loans, credit cards and transaction accounts last year, according to a newly-released report by Deloitte Access Economics commissioned by the Australian Banking Association. While a strong majority of customers are satisfied with their financial products, the Deloitte report showed 2.8 million customers switched to new banks or financial providers for… Read more »
Banks welcome today’s release of the Sylvan Review, which charts a path forward to strengthen Australia’s financial counselling sector. The Review highlights the importance of financial counsellors in helping Australians who are struggling to repay their debts, manage their household budgets and provide for their families in a difficult environment. Banks actively participated in the… Read more »
The Australian Banking Association has today partnered with Toowoomba Chamber of Commerce to brief the local business community and stakeholders on the new rule book for banks, the new Banking Code of Practice, and the ‘financing your small business’ website. In force since July 1 this year, the new ASIC approved Banking Code of Practice… Read more »
The new Banking Code of Practice, came into operation on 1 July 2019. On the 22nd May, the ABA applied for authorisation from the ACCC to further amend the Code by adopting the recommendations from the Royal Commission. These recommendations relate to default fees on farm properties during natural disasters, prevention of informal overdrafts… Read more »
Australians affected by the bushfires in NSW and QLD are encouraged to contact their bank to access a wide range of assistance available. CEO of the Australian Banking Association (ABA) Anna Bligh said that banks stand ready to assist customers affected by bushfires, offering a range of services including deferred loan repayments, waiving fees and… Read more »
South Australian small businesses, or those looking to start one, are being encouraged not to hold back in seeking finance, with research by the Australian Banking Association (ABA) revealing a 94% loan approval rate from member banks and a new online resource now available with all the tips and tools needed to apply. The ABA… Read more »
For the first time the Australian Banking Association (ABA) Council of CEOs, its governing body, has held its quarterly meeting in a regional centre. The Council met with local community leaders and groups, including Bendigo Mayor Margaret O’Rourke, local business chamber Be.Bendigo, the Salvation Army and Rural Financial Counsellors. ABA Chair and ANZ CEO… Read more »
Last Friday ABA CEO Anna Bligh spoke at COSBOA’s National Small Business Summit, telling the audience ‘banks are open for business’.
If you’ve ever dreamed of throwing in the towel at work and starting your own business, you’re not alone. In fact, more than nine million Australian’s dream of being their own boss. Research commissioned by the Australian Banking Association, found that while millions of people have dreamed of working for themselves and starting a business,… Read more »
Nine million Australians have dreamed of working for themselves and starting their own business. However 60 per cent cited “access to money” as the reason holding them back.