22 September 2017
Statement from Anna Bligh, Australian Bankers’ Association Chief Executive:
“The seven day consultation period announced by the Federal Government on new banking executive accountability laws is grossly inadequate and playing fast and loose with a critical sector of the economy.
“The industry recognises that improving senior executive accountability is crucial for customers to have trust in banks.
“Banks want to work with the Federal Government to get this right, but just seven days to consult is not good enough.
“This is a significant piece of reform that impacts on the integrity of banks and the stability of the financial system and it needs thorough scrutiny.
“It’s an entirely new addition to the system of corporate governance in Australia. The Government’s timeframe risks serious unintended consequences.
“The ABA urges the Government to extend the consultation period and do the proper due diligence to ensure that the objective of improving senior executive accountability is met.”
ENDS
Contact: Stephanie Arena 0477 470 677
Latest news
Banks are on standby to assist customers across Queensland and Northern NSW who might be impacted by Tropical Cyclone Alfred in the coming days. ABA CEO Anna Bligh said banks are closely monitoring the developing situation along the east coast and are putting in place arrangements to support customers in affected areas. “This is a… Read more »
Graeme Goodings (Host): Hardly a day goes by that we don’t talk about scams. I mean, we’re ever alert, but the scammers seem to be one step ahead, half a step ahead, best, and all we can do is put out warnings to you on a regular basis. Joining me now is CEO of the… Read more »
Natalie Barr (Host): Well, as we kick off into footy season, the Australian Banking Association is urging Aussies to remain vigilant with ticketing scams. Matt Shervington (Host): People buying resale tickets to footy games on social media are being told to watch out for the warning signs as the growing number of criminals take advantage… Read more »