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ABA Industry Guideline: Financial Difficulty

26 October 2021

This industry guideline:

  • explains how the Commonwealth consumer protection laws and the Banking Code of Practice apply to banks’ financial difficulty programs.
  • provides practical guidance on what banks can do to meet these obligations when dealing with customers who may be experiencing financial difficulty.
  • outlines a framework for banks that balances the need for consistent, standardised access to financial difficulty assistance with the need for flexibility when responding to customers’ unique personal and financial circumstances.
  • promotes best practice across the banking industry.

This guideline reflects good industry practice, and the Australian Banking Association (ABA) encourages  members to use the principles in this guideline to put in place internal processes, procedures, and policies.

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