BCCC Priorities for 2022-23
8 February 2022
The ABA provides input to the Banking Code Compliance Committee (BCCC) consultation on its 2022-23 compliance priorities. In addition to its response on the six consultation questions, the ABA acknowledges the critical role the BCCC plays in both monitoring and enforcing banking sector compliance with the Banking Code of Practice and identifying best practice for banks to help achieve compliance in the best interests of customers. The ABA also acknowledges the BCCC submission to the Banking Code Triennial Review and looks forward to working closely as the ABA leads the development of an updated Code.
Download PDFBanking Code Review (2021)
6 August 2021
The ABA is planning to strengthen the small business section in this version of the Code by expanding the definition and increasing the number of small businesses able to access covenant light contracts from their bank
Download PDFABA Response to Pottinger Review
13 November 2020
The Review is an important measure in clarifying the definition of small businesses in Australia and the ABA accepts all nine recommendations.
Download PDFTreasury RIS consultation on Enhancements to Unfair Contract Term Provisions
27 May 2020
The Australian Banking Association (ABA) supports an effective regulatory regime that provides consumers and small business with a strong level of protection from unfair contract terms (UCTs) in standard form contracts. In our view, making UCTs illegal and attaching penalties will result in a more legalistic approach to contracting and an adversarial process with regulators. We believe that a supervisory focused enforcement approach by regulators can best deliver improved outcomes for small business.
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