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.
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The Australian Banking Association acknowledges Linfox Armaguard (LFA)’s statement that they won’t be taking up the offer of financial support from a collective of banks, retailers and supermarkets. We welcome Armaguard’s commitment that they will continue to operate and have secured funds from their parent company to maintain their full suite of services. Australia’s largest… Read more »
The Australian Banking Association (ABA) welcomes legislation passing through the Senate to expand Australia’s digital identity system. Importantly, this legislation will allow banks to apply to join the nationwide framework within two years of commencement. ABA CEO Anna Bligh said a voluntary nationwide Digital ID would be another important tool for banks to help protect… Read more »
The Australian Banking Association welcomes the release today of a new report from the National Anti-Scam Centre showing that industry and government measures to tackle scams are protecting more Australians. The latest quarterly report shows that overall scam losses in the 2023 December quarter were down by 43% compared to the same quarter last year. … Read more »
The Australian Banking Association welcomes the Federal Government’s decision to introduce a financial sector regulatory initiatives grid. ABA CEO Anna Bligh said providing a clearer picture of the future regulatory landscape would allow the Government to implement policy initiatives whilst at the same time reducing the compliance burden on industry. “Banks recognise that regulation is vitally important… Read more »
This International Women’s Day, the Australian Banking Association has reaffirmed the sector’s unwavering commitment to protecting women’s financial safety and security. In Australia, one in six women will experience financial abuse over the course of their lifetime. The 2024 IWD theme “Count Her In” is an opportunity to talk about the types of financial abuse… Read more »
Today the Australian Banking Association has told Queenslanders impacted by major flooding as a result of cyclone Jasper that banks have teams on standby to help those in need. “The ABA urges anyone in need of financial assistance to reach out to their bank, and to do so as early as possible. Dedicated hardship teams… Read more »
The ABA welcomes the release of the ACCC’s retail deposits inquiry final report today, saying competition in the Australian banking sector is critical to good customer outcomes and the Report shows that it is strong in the Australian context. “2023 has seen highly competitive market forces at work in banking from which consumers are the… Read more »
With the festive season underway, the Australian Banking Association (ABA) is urging Australians to be vigilant against scams this Christmas. “Scammers will try their very best to exploit the increased shopping activity and generosity in the lead up to Christmas, preying on unsuspecting individuals,” said ABA CEO Anna Bligh. “While many Australians get ready to… Read more »
The Australian Banking Association Council has today appointed National Australia Bank Chief Executive Officer Ross McEwan as Chair of the ABA. At its Annual General Meeting, the ABA also confirmed Marnie Baker, CEO of Bendigo and Adelaide Bank, will remain in the role of Deputy Chair. Mr McEwan thanked outgoing Chair Peter King for his… Read more »
Every Australian deserves equitable access to banking services. That’s why the Australian Banking Association (ABA) has broadened the scope of its accessibility framework to ensure the banking sector remains inclusive in a fast-changing digital landscape. “Updating and strengthening these principles is about making sure no one is left behind in a rapidly changing and increasingly… Read more »
The Australian Banking Association (ABA) welcomes the Albanese Government’s significant financial advice reform package announced today by Assistant Treasurer Stephen Jones. “In recent years, too many Australians seeking simple financial advice have not been able to receive it in a cost-effective manner,” said ABA CEO Anna Bligh. “While previous reforms were well-intentioned, the result has… Read more »
“Seeing the banks make these changes means I feel a sense of safety, security and support; that I matter and that the horrible experience I’ve been through can somehow be useful to help make changes to prevent the misuse and manipulation of gaps in banking systems and processes.” – Victim-survivor of financial abuse A new… Read more »
New laws banning the use of credit cards for online gambling are set to be rolled out nationwide following the passing of the Federal Government’s Interactive Gambling Act 2001 Bill yesterday evening. The Australian Banking Association (ABA) has welcomed this milestone saying the new laws will make it illegal for an online gambling company to… Read more »
Today the Australian Competition and Consumer Commission (ACCC) has authorised the main users of cash including banks, retailer providers and Australia Post to undertake industry discussions ensuring cash remains readily available to all Australians. Customers’ usage of cash has plunged from 70% in 2007 to 13% in 2022. The cash spiral is showing no signs… Read more »
“The Australian Banking Association applauds action from the Government to legislate a voluntary Digital ID as the nation’s first line of defence against cybercrime,” ABA CEO Anna Bligh said. A Digital ID means Australian companies won’t need to store copies of your personal information, reducing the risk of data theft. It also means people can… Read more »
Australian banks have joined forces to launch a new Scam-Safe Accord to deliver a higher standard of protection for customers and put scammers out of business in Australia. This Accord, between Australia’s community owned banks, building societies, credit unions and commercial banks is a comprehensive set of anti-scam measures across the entire industry. “This Scam-Safe… Read more »
Banks will contribute $19 million over three years to the Government’s voluntary financial counselling model announced today by Minister for Social Services, Amanda Rishworth. “Banks large and small are proud to be funding the lions share of this initiative.” said ABA CEO Anna Bligh. This funding will help increase the availability of free, independent counselling… Read more »
Today the Australian Banking Association has launched a campaign encouraging Australians struggling with loan repayments to contact their bank, titled ‘Don’t tough it out on your own.’ “Banks know many of their customers are making difficult financial decisions right now as the country navigates challenging economic conditions,” said ABA CEO Anna Bligh. “Banks stood by… Read more »
As the NSW Government marks Small Business Month, the banking sector joins in celebrating the unwavering spirit and contributions of small businesses across the state. This initiative by the NSW Government is dedicated to recognising the pivotal role these enterprises play in driving economic growth, creating jobs, fostering innovation, and enriching our communities.
Banks have reaffirmed their commitment to Australia’s agriculture sector as it faces into an increasingly unpredictable economic landscape.