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.
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Speech by Anna Bligh, Chief Executive of the Australian Banking Association, to the Sydney launch of the Australian Financial Complaints Authority.
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.
Speech by Anna Bligh, Chief Executive of the Australian Banking Association, to the FINSIA 2018 Summit about earning back trust and the role of self regulation.
10 Oct 18 – Ending fees for no service Media Conference
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.
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.
28 Sep 18 – Media Conference Royal Commission Interim Report
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.
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.
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.
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.
Speech by Anna Bligh, Chief Executive of the Australian Banking Association, to the COSBOA Vodafone National Small Business Summit.
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.
Restoring trust and confidence in Australia’s banks through an open and transparent industry is the joint goal of Government, regulators and the sector. Banks will work proactively and in good faith with ASIC on the measures announced today to improve monitoring of regulation and increase the transparency of the financial services industry.
Australian banks welcome competition and compete not only through price, but through constant innovations to product features and experiences. Banks are constantly working to ensure customer satisfaction and the availability of quality products.