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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Australian banks are supporting communities in Far North Queensland affected by Tropical Cyclone Niran.
This is the version of the Banking Code of Practice that took effect on 1 March 2021, a variation of the 1 March 2020 Release. It has now been superseded. This version of the code has been replaced by the October 5 2021 Version.
“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 »
Access to credit opens up opportunities and fulfills aspirations. Getting it right requires the right balance between consumer protections and the flow of credit.
Interviewed by AM’s Peter Ryan, ABA CEO Anna Bligh talked about the substantial drop in loan deferrals since their peak during the pandemic, falling from 900,000 to 300,000.
“we’ve seen a record high number of Australians switch their loans, either to another bank or gone to their own bank and got a better deal.”
“Banks play a vital role in helping Australians survive and recover from bushfires and other disasters”, said ABA CEO Anna Bligh.