1 November 2016
This industry guideline:
• Explains that financial abuse is often a form of family and domestic violence.
• Outlines how financial abuse can impact a bank’s relationship with their customer.
• Outlines a framework for banks to raise awareness and promote consistent arrangements to support their customers who may be impacted by financial abuse and family and domestic violence.
• Encourages best practice across the banking industry.
Australia’s banks will comply with a strong new code of practice that significantly increases and enshrines customer protections and introduces tough new penalties for breaches from tomorrow. The ASIC-approved Banking Code of Practice represents the most significant increase to customer protections under a code in the industry’s history. From 1 July, under the new Banking… Read more »