Submissions

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IGA eConveyancing Paper

10 April 2019

While the Issues Paper comprehensively considers the impact of eConveyancing from an industry and government perspective, greater consideration should be given to the consumer outcome.

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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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Consumer Data Right – Energy Sector

22 March 2019

Banking will be the first sector to apply the CDR and the ABA supports the participation of more sectors over time to achieve an economy-wide open data regime.

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Ending Grandfathered Conflicted Remuneration for Financial Advisers

22 March 2019

While our member banks have taken steps to remove these conflicts of interest, the industry has advocated for a legislative approach to implementation of these reforms to ensure consistency across the industry and overcome practical and contractual challenges to fully removing conflicted remuneration.

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Coordination and funding of financial counselling

21 March 2019

There is significant unmet demand for financial counsellors and the banking industry supports additional funding to meet this need.

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Resolution of disputes with financial service providers within the justice system

5 March 2019

ABA member banks have committed to and are taking significant steps to change their processes and culture to ensure there is no repeat of the cases heard at the Royal Commission.

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2019 Australian Payments Plan Consultation

1 March 2019

The people who currently use cash most heavily, or are least digitally-active, are often those in potentially vulnerable circumstances, including consumers living in remote communities and the elderly

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Consumer Data Right Bill Inquiry

28 February 2019

The Privacy Safeguards should be aligned with the Australian Privacy Principles where possible, particularly in relation to Privacy Safeguard 4.

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A sharing economy reporting regime – Consultation paper

22 February 2019

The ABA does not support reporting by financial institutions (option 2) and agrees with the submission of the Australian Payments Network that such a reporting regime would not meet Treasury’s stated criteria of a good reporting regime.

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ASIC Industry Funding Model and Registry Search Fees

8 February 2019

The ABA supports the CCM initiative and its members are committed to co-operating with ASIC to ensure its success. The ABA supports the principle that costs of the close and continuous monitoring program should be contributed to by industry.

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