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.
The ABA plays an active role in the public dialogue on banking and financial services, providing commentary on broader industry issues and facilitating access to other sources of information.
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see what’s happened in the Australian banking sector
Australian banks are ready to help customers in Western Australia who are rebuilding after the destruction inflicted by Tropical Cyclone Seroja. Communities in WA’s mid-west were devastated by the cyclone last week, when it crossed the coast near the town of Kalbarri. Geraldton, Northampton, Binnu, Chapman Valley, Mingenew and a number of other towns were… Read more »
Australian banks are launching updated guidelines on financial abuse as part of their continued focus on responding to family violence and elder abuse.
Family and domestic violence is a whole community issue and requires the collective efforts ofgovernment, communities, and the corporate sector, including banks, to respond to the challenges. This industry guideline: Explains that financial abuse is a form of family and domestic violence. Outlines how financial abuse can affect a bank’s relationship with their customer. Outlines… Read more »
Australian banks are urging state and territory governments to adopt consistent laws on powers of attorney to prevent elder financial abuse.
These guiding principles outline measures in place to help customers understand Lenders Mortgage Insurance (LMI), understand the default / LMI claim process, and the consumer protections in the shortfall debt recovery process.
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”
Australian banks are supporting communities in Far North Queensland affected by Tropical Cyclone Niran.
“No customer is going to wake up the day after the 31st of March and find that there is some legal action being taken by their bank on their loan.”
“For the first time, banks are unveiling an industry-wide Financial Assistance Hub. The site aims to inform and assist bank customers so they know exactly where they stand, and the support their banks will provide them.”
The ABA supports the proposed licencing regime for debt management firms and has called for further changes to protect consumers.
“…banks can go back to their normal processes and that is working out what’s right for every single customer, on an individual tailored basis with a proper assessment. That is the best thing for the customer.”
The Banking Industry Conduct Background Check Protocol is intended to promote good conduct and ethical behaviour by formalising obligations for protocol Subscribers to ask a series of fact-based questions as part of the hiring process about whether the individual is subject to an ongoing Misconduct Investigation, or was dismissed or resigned in specific circumstances relating… Read more »