28 October 2019
The ABA views any changes to the Consumer Data Right (CDR) regime as likely to have a significant impact on the privacy of individuals, thereby warranting reconsideration of the risks and recommendations made by the PIA. This review process is crucial to ensuring that the CDR regime will meet its stated goal of being ‘consumer… Read more »Download PDF
The ABA has set up a natural disasters work program that reports to our 16 Council members in order to clarify, strengthen and streamline the banking industry’s response to natural disasters to ensure that they have the right tools for the job at the right time.
By the beginning of March 2020, the major banks had provided bushfire assistance grants totalling $7.6 million to more than 4,000 customers across Australia. The banks had also raised more than $42 million in donations to help devastated communities and assisted more than 3,500 customers with financial relief packages of the types described below.
The ABA supports the ongoing development and expansion of the Consumer Data Right (CDR). As the first sector to launch with Open Banking, the banking industry has contributed significantly to operationalising the CDR vision through expertise within the sector as well as providing the Open Banking systems through which the first consumer data will flow in the CDR.
The ABA is supportive of modernising prudential guidance in line with contemporary credit risk management practices. However, it is important to ensure that any new guidance sits comfortably within a predictable and transparent regulatory framework for ADIs