Interim Report of the Royal Commission

28 September 2018

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.

There are no excuses for the behaviour that has been exposed by the Royal Commission.

Banks accept responsibility for their failures and right now they are working day and night to make things right for their customers.

We will fix these problems and make them right without delay, to earn back the trust of the Australian public.

We will build a banking industry which acts with integrity and is once again respected by our customers and the Australian community.

The industry will respond to the specific findings in the Interim Report through a submission in the coming weeks.

ENDS
Contact: Rory Grant 0475 741 007

More information is available on the ABA’s Royal Commission page.

Latest news

1 / 3
Publication
Banking Code of Practice (2020 Release, awaiting ASIC authorisation)
12 December 2019

This is the version of the Banking Code of Practice that takes effect on 1 March 2020. It is currently awaiting ASIC authorisation.

Download PDF
Media Release
ASIC responsible lending guidance important for stability
9 December 2019

Today’s release of ASIC’s updated RG 209 Credit Licensing: Responsible lending obligations is an important milestone in clarifying responsible lending obligations for banks. CEO of the Australian Banking Association Anna Bligh said that the updated RG 209 would provide clarity to banks on ASIC’s views on what responsible lending obligations require before offering credit to… Read more »

Read more
December 2019 Newsletter
5 December 2019

The ACCC has authorised changes to the Banking Code of Practice, in line with recommendations of the Royal Commission, and initiatives of the ABA.

View online