Industry guideline: Banks’ financial difficulty programs

Nearly 30 groups representing small, medium and large businesses, and universities, that employ millions of Australians, are calling on all governments to cut regulatory costs by 25 per cent to help consumers and businesses amid surging costs caused by the Middle East war. The Alliance of Industry Associations, which represents every part of the Australian… Read more »

Australian banks are supporting the roll-out of zero interest loans under the National Reconstruction Fund’s $1 billion Economic Resilience Program, with applications now open. Banks will administer zero interest loans to businesses in identified priority sectors with an annual turnover of $100 million or less seeking a loan of up to $5 million. ABA CEO… Read more »

The ABA welcomes government consultations on proposals to enhance consumer protections and reform the Compensation Scheme of Last Resort (CSLR) to ensure it is financially viable into the future. ABA CEO Simon Birmingham said the current model was not operating as originally intended and banks supported steps to reduce investment losses and redesign CSLR to… Read more »