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Australian banks are urging state and territory governments to adopt consistent laws on powers of attorney to prevent elder financial abuse.
Australian banks are supporting communities in New South Wales after torrential rain and floods in parts of the state. Floodwaters have inundated towns on the NSW North Coast, Sydney has been pummelled by heavy rain and more is forecast in coming days. Australian Banking Association CEO Anna Bligh says banks have a range of measures… Read more »
“Over the past year, banks have cushioned the blow for their customers. Through 2021, their priority is helping customers rebuild and get ahead”
“This is the right product for the times. It includes more flexibility, and will allow small businesses to re-stock, rebuild and recover”, said ABA CEO, Anna Bligh.
Australian banks are supporting communities in Far North Queensland affected by Tropical Cyclone Niran.
Banks have developed an industry-wide, consistent approach to hardship and a new online tool to guide customers.
The ABA supports the proposed licencing regime for debt management firms and has called for further changes to protect consumers.
“The most important consideration right now is staying safe. But when West Australians affected by recent bushfires are ready to pick up the pieces, their bank will be ready to help,”
New Comprehensive Credit Reporting laws will lead to better deals for customers with a good credit history.
The number of deferred loans has fallen below 300,000 – a reduction of almost 70% since the peak earlier this year.
“Banks have already been acting on the findings of Commissioner Hayne and remain fully engaged for this next phase” ABA CEO Anna Bligh
“Banks play a vital role in helping Australians survive and recover from bushfires and other disasters”, said ABA CEO Anna Bligh.
Since February 1, Australian banks have approved over $41b for SMEs and sole traders. That’s an average of $5 billion per month.
Almost half of deferred loans are now being repaid again as Australians recover from the pandemic
This year’s federal budget will help Australia recover from the economic impact of COVID‑19 and create jobs as the nation recovers. The Australian Banking Association has welcomed the strong focus on support for small and medium businesses and direct assistance to families. “Australian banks stand ready to continue their role helping millions of Australians through… Read more »
“These changes will make banking faster and easier” said ABA CEO Anna Bligh
“Banks look forward to working with the Government to ensure the legislation works for both customers and the broader economy”.
Australia’s banks supported their customers as the country entered the COVID-19 pandemic and they continue to support them on the way out. As the initial wave of 6-month loan payment deferrals come to an end, banks have begun to contact customers for their 6-month assessment and to discuss the next stage of support and assistance. … Read more »
“These figures show there are some green shoots emerging in our economy and that’s a positive sign.” – ABA CEO Anna Bligh
“This will be welcome news for SMEs and opens up the scheme to those businesses who are looking to invest or need some extra support.”