Submissions

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Enforceability of financial services industry codes

18 April 2019

Recommendation 1.15 should be implemented in a manner consistent with Commissioner Hayne’s clear intention to preserve the benefits and fundamental self-regulatory characteristics of financial sector codes.

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Banking System Reform (Separation of Banks) Bill 2019

9 April 2019

The ABA does not support this Bill and has concerns with the drastic regulatory intervention it proposes. The industry’s existing reform program will be more efficient, less costly and less disruptive to the economy and community.

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Submission to the Royal Commission Interim Report

14 November 2018

There are no excuses for the behaviour that has been exposed by the Royal Commission. We as Australia’s banks accept full responsibility for these failures and right now are working to make this right for customers who have been hurt. The ABA thanks all those customers who have come forward to give evidence along with Commissioner Hayne and his team for the comprehensive examination of the issues. It is clear throughout the report, and the hearings, that there were several themes of unacceptable behaviour. These include a focus on sales rather than service, poor culture and the way staff and third parties were paid.

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Royal Commission Round 5 – Superannuation

21 September 2018

In a market where many customers are disengaged and use a default fund, visiting a bank branch may be one of the few occasions where they can have their attention drawn to their superannuation.

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Royal Commission Round 4 – Rural and Remote Communities

3 August 2018

Many of the poor outcomes experienced by consumers in the Round 4 case studies are likely to be improved with the implementation of industry reforms currently in train.

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Royal Commission Round 3 – Small Business Lending

8 June 2018

Self-regulation of the banking industry through the Banking Code of Practice is adequate to address any residual concerns raised in the context of the Round 3 Hearings about the coverage of obligations imposed on the banks.

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Submission to the Banking, Super & Fin Services Royal Commission

9 March 2018

In recent years there have been a number of instances where banks have failed to meet the expectations of their customers and of the community.

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