13 December 2016
Sydney, 13 December 2016: The Australian Bankers’ Association has today acknowledged the one month delay of the report of the Code of Banking Practice review.
ABA Executive Director – Retail Policy Diane Tate said the independent reviewer, Mr Phil Khoury, had requested more time to adequately deal with the breadth and complexity of issues.
“The ABA recognises that the process to review the Code is extensive and requires thorough consultation and engagement,” she said.
“We acknowledge that Mr Khoury needs more time to be able to produce the best outcome – a report which clearly identifies the pathway to improve the Code.
“We look forward to receiving the report by the end of January next year with recommendations on how banks can strengthen their commitments to customers and improve standards of behaviour,” Ms Tate said.
More information, including a status report published by the independent reviewer, is available on the review website at cobpreview.crkhoury.com.au.
ENDS
Contact: Stephanie Arena 0477 470 677 or Nic Frankham 0435 963 913
Latest news
Michael McLaren (Host): Well, here we are at the Easter Show, the great celebration of country life in the city, but it’s also an important platform this to better understand the challenges that the regions face. Now, yesterday, we looked at the floods. Today, I want to look at the banks. Now in the regions,… Read more »
The ABA is reminding customers across North and Far North Queensland that they don’t have to tough it out on their own, as they continue to recover from February’s severe flooding event. ABA CEO Anna Bligh recently met with Queensland’s State Recovery Coordinator Andrew Cripps to discuss how banks can assist customers facing financial difficulty… Read more »
Banks stand ready to support customers in western Queensland and parts of New South Wales affected by heavy rainfall and flooding. ABA CEO Anna Bligh said customers don’t have to tough it out on their own and banks have a range of practical measures to assist those facing financial stress. “This is a challenging time… Read more »