16 October 2023
The provision of credit to small business is critical to the success of the economy and the prosperity of Australians, and ABA members are committed to the success of Australia’s small business sector.
The ABA acknowledges AFCA’s work in developing a public approach to small business lending and understands that AFCA’s intention in publishing its approach to small business is to aid small business borrowers and lenders in understanding how AFCA currently approaches its determinations. However, there is a likelihood that the degree of prescription AFCA adopts in the draft SME Approach may have this effect and introduce a level of detail that goes beyond existing requirements under laws, standards, and codes.
We urge AFCA to adopt a principles-based approach based on established principles, standards, and requirements in small business lending, such as the BCOP, to ensure that lending to small businesses is not restricted and is consistent with existing requirements.
Latest articles
The ABA welcomes the opportunity to comment on the exposure draft Treasury Laws Amendment Bill 2026: Tax information reporting (Exposure Draft) and explanatory materials (EM). The ABA su ports improving tax transparency and maintaining Australia’s alignment with international reporting standards. This submission builds on the ABA’s March 2026 letter.
The Committee should recommend a policy and regulatory framework that manages risk and maximises opportunity, giving businesses the confidence to invest, innovate and deploy AI at scale for the benefit of customers, while preserving Australia’s capacity to use AI to protect and advance the national interest.
The Australian Banking Association (the ABA) welcomes the opportunity to comment on the Consultation Paper that will inform the direction and development of the Second Action Plan under Australia’s National Plan to End Violence against Women and Children 2022-2032 (the National Plan).