14 September 2017
The Australian Bankers’ Association has welcomed the introduction of legislation today to establish the new Australian Financial Complaints Authority.
“The ABA strongly supports moving to a one-stop-shop to simplify how customers resolve complaints,” ABA Chief Executive Anna Bligh said.
“External dispute resolution is an important alternative to the court system as it is free for customers to use and doesn’t require formal legal representation.
“The new complaints body is a win for customers and will help people have confidence that their disputes will be heard as efficiently and quickly as possible.
“The ABA looks forward to working with the Federal Government and the AFCA transition team and reference panel on AFCA’s establishment.”
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“the earlier that people speak to their bank, the more likely it is that the bank can find a solution that will work and keep the customer out of financial strife.”
Twenty of Australia’s most influential business and finance peak bodies have come to an unprecedented consensus on the need for sustainability reporting.
“Over the past eight years, Mr Byres has provided strong leadership… particularly through the very stormy economic waters of recent times.”