14 November 2024
This guideline outlines good industry practice for how banks can take extra care with customers experiencing vulnerability.
It explains:
• what vulnerability can look like,
• how a bank may recognise that a customer is experiencing vulnerability and identify their needs,
• what personal information is appropriate and permissible to record to enable the bank to provide the customer with extra care, and
• what steps a bank should take to try to assist a customer experiencing vulnerability avoid or minimise harm.
Latest news
The ABA acknowledges today’s release of designations, draft industry codes, draft rules and a government discussion paper regarding the Scam Prevention Framework (SPF). Banks will scrutinise these SPF settings carefully to ensure they: ABA CEO Simon Birmingham said the most important policy objective of the SPF needed to be preventing scam losses in the first… Read more »
E&OE Bran Black, BCA: I’m here with colleagues from industry associations that represent the length and breadth of Australia’s economy, and we’re here today to talk about a couple of key features of the Budget. What I wanted to do is just take a step back first and just talk about how we came together…. Read more »
The Alliance of Industry Associations described measures in the Federal Budget as positive first steps on productivity reform, while calling for further action to deliver sustained cost of living relief for households and businesses. The Alliance, representing around 30 industry groups from a broad cross-section of Australia’s economy, has previously called for a significant package… Read more »