This guideline outlines good industry practice for how banks can take extra care with customers experiencing vulnerability. It explains: • what vulnerability can look like, • how a bank may recognise that a customer is experiencing vulnerability and identify their needs, • what personal information is appropriate and permissible to record to enable the bank… Read more »
The recently updated Branch Closure Support Protocol is an enforceable industry standard designed to improve transparency, ensure better communication, and improve customer support when bank branches close.
This industry guideline: explains how the Commonwealth consumer protection laws and the Banking Code of Practice apply to banks’ financial difficulty programs. provides practical guidance on what banks can do to meet these obligations when dealing with customers who may be experiencing financial difficulty. outlines a framework for banks that balances the need for consistent,… Read more »
These guiding principles are designed to assist banks when designing, appointing and reviewing the role of Customer Advocate. Customer Advocates should be a voice for customers within their bank. They should endeavour to make things easier for bank customers by helping to facilitate fair outcomes and minimising the likelihood of future problems. ABA Customer Advocates… Read more »
ABA Family Domestic Violence Industry Guideline updated and released in 2021. The guideline acknowledges that banks play a role in working with customers to support them with their banking needs where they are affected by family and domestic violence. However, it is not the role of banks to deal with the broader implications of family… Read more »
Preventing and responding to financial abuse (including elder financial abuse) This industry guideline: Explains what financial abuse can look like and how it can impact customers and a bank’s relationship with their customers; and Outlines a framework for banks to raise awareness and promote consistent arrangements to deal with suspected cases of financial abuse This… Read more »
ABA member banks will not sell debt if: the debt is statute-barred, or the customer is in the process of disputing that they owe the debt and the bank has not yet finalised its consideration of the issue.
Responding to requests from a power of attorney or court-appointed administrator. This industry guideline: Explains how financial powers of attorney and court-appointed administrator arrangements apply to banks’ relationships with their customers, and Outlines a framework that banks can use to consistently manage requests from attorneys and administrators. The ABA encourages members to use this guideline… Read more »