Skip to main content
Financial Assistance Hub

Banking industry welcomes new economic team

Banking industry welcomes new economic team

27 May 2019

The Australian Banking Association welcomes the reappointment of Treasurer the Hon Josh Frydenberg MP and the new appointments of the Hon Michael Sukkar MP as Assistant Treasurer and Minister for Housing and Senator Jane Hume as Assistant Minister for Superannuation, Financial Services and Financial Technology.  

The industry is committed to earning back the trust of the Australian people and looks forward to working with the new ministers appointed to implement the recommendations of the Royal Commission and ensure lending conditions remain geared for economic growth.

CEO of the Australian Banking Association Anna Bligh welcomed the new appointments and looks forward to working closely with the Government on important policies such as improving protections for customers through overhauling the Banking Code of Practice, Open Banking and the Government’s First Home Buyers policy announced during the campaign.

“Congratulations to Josh Frydenberg on his reappointment as Treasurer, to the Hon Michael Sukkar MP on his appointment as Assistant Treasurer and Senator Jane Hume on her appointment as Assistant Minister for Superannuation, Financial Services and Financial Technology.

“The Royal Commission clearly set out a number of key changes to banking, particularly around the Banking Code of Practice, which the industry have been working tirelessly to implement over the past few months.

“There are a number of critical reforms apart from the Royal Commission, most notably Open Banking and Comprehensive Credit Reporting, which the industry is eager to continue to work closely with the Government to ensure their success.

“Australia’s banks hold a critical role in the national economy and stand ready to work with the Morrison Government to ensure the economy keeps growing, from the financing of infrastructure projects to helping everyday people get ahead in life with first homes, cars and small business lending.

“Ensuring lending remains straight forward and easy for Australian customers looking to buy a home or invest in their business is a top priority for the industry and remains a critical element in ensuring the economy is geared for growth,” she said.

ENDS
Contact: Rory Grant 0475 741 007

Latest news

1 / 3
Media Releases
Australian banks support card surcharging ban, urge alternative on interchange fees
9 September 2025

Australian banks strongly support the RBA’s proposed ban on debit and credit card surcharges, while overwhelmingly calling for an alternative pathway forward on interchange fees.  The ABA has made the following calls in a submission to the RBA’s current consultation on the Review of Merchant Card Payment Costs and Surcharging:  ABA CEO Simon Birmingham said… Read more »

Read more
Media Releases
New payments system rules welcomed by banks
4 September 2025

Australia’s banks welcome the passing through the Senate of new legislation to ensure payments laws are up-to-date and reflect today’s digital economy. The new laws will bring digital wallets, cash distribution services, buy now, pay later schemes and other emerging payment methods within regulatory oversight, significantly enhancing protections for customers. ABA CEO Simon Birmingham said… Read more »

Read more
Media Releases
Banks welcome passage of Payments System Modernisation Bill through the House
3 September 2025

The ABA welcomes the passage through the House of critical legislation to ensure Australia’s payments regulatory framework is brought up-to-date and urges the Senate to quickly pass this overdue legislation too. The proposed legislation will bring digital wallets, cash distribution services, buy now, pay later schemes and other emerging payment methods within regulatory oversight, significantly… Read more »

Read more