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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Today the Australian Banking Association Council has appointed Melanie Evans, CEO of ING Australia, as its new Deputy Chair. The Council thanked the outgoing Deputy Chair, Marnie Baker, for her outstanding leadership during her tenure as Deputy Chair since 2019 and throughout her 35 years in the banking industry. Ms Evans said she was honoured… Read more »