22 June 2021
These guiding principles outline measures in place to help customers understand Lenders Mortgage Insurance (LMI), understand the default / LMI claim process, and the consumer protections in the shortfall debt recovery process. These voluntary principles complement the provisions of the Banking Code of Practice (the Code) set out in Chapter 19 (LMI), Chapter 41 (we will try and help you if you are experiencing financial difficulty), and Chapter 43 (when we are recovering a debt).
Latest news
“The Australian Banking Association applauds action from the Government to legislate a voluntary Digital ID as the nation’s first line of defence against cybercrime,” ABA CEO Anna Bligh said. A Digital ID means Australian companies won’t need to store copies of your personal information, reducing the risk of data theft. It also means people can… Read more »
Australian Banking Association CEO Anna Bligh: Today Australia’s banking system is coming together to launch the most comprehensive set of new anti-scam reforms. With a level of unprecedented cooperation, banks, commercial banks, building societies, credit unions, and mutual banks have joined together to commit to a set of anti-scam reforms to keep Australians and their… Read more »
Australian banks have joined forces to launch a new Scam-Safe Accord to deliver a higher standard of protection for customers and put scammers out of business in Australia. This Accord, between Australia’s community owned banks, building societies, credit unions and commercial banks is a comprehensive set of anti-scam measures across the entire industry. “This Scam-Safe… Read more »