Submissions

Filter Content

Clear all
Credit and financial services targeted at Australians at risk of financial hardship

14 November 2018

All Australians should be afforded consistent consumer protection, no matter which credit or financial services provider they choose. For customers at risk of financial hardship, these consumer protections are particularly important.

Download PDF
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.

Download PDF
Regulations for Design and Distribution Obligations and Product Intervention Powers

13 November 2018

These regulations would extend the operation of the Design and Distribution Obligations to additional financial products. This submission outlines the ABA's concerns regarding some aspects of this proposal.

Download PDF
International Capital Framework Comparability

12 November 2018

While the ABA supports ‘unquestionably strong’ capital ratios, the ABA agrees with APRA that this embedded conservatism makes it more difficult and/or costly for Australian ADIs to access international capital markets if these Australian differences are not well understood, particularly during times of market dislocation.

Download PDF
Consumer Data Right Industry Designation

23 October 2018

The ABA believes that each industry would be better served by a designation tailored to their industry, rather than a broad instrument that is attempting to serve as a template.

Download PDF
Design and Distribution Obligations and Product Intervention Powers (Senate)

18 October 2018

ABA members support the intent of the design and distribution obligations (DDO) to assist “consumers select appropriate financial products by requiring issuers and distributors to appropriately market and distribute financial products.”

Download PDF
Updated Consumer Data Right Exposure Draft

16 October 2018

The ABA believes that having a well-designed reciprocity mechanism within the CDR is key to ensuring customers reap the full benefits of the data that is held regarding them.

Download PDF
Consumer Data Right Rules Framework – ABA response to ACCC

12 October 2018

ABA members believe that the CDR is a transformative reform and are committed to its success. The CDR has the potential to fuel innovation across the economy and benefit customers through an expanded choice of products and services.

Download PDF
APRA Discussion Paper: Revisions to the related entities framework for ADIs

4 October 2018

The ABA is cognisant of the size and complexity of the task APRA has in finalising and calibrating a number of significant reforms to the Australian prudential framework. The ABA looks forward to continued dialogue to ensure an appropriate implementation of the capital framework for Australian ADIs.

Download PDF
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.

Download PDF