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In a first for the industry, retail banks in Australia will be required to sign up to the new Banking Code of Practice as a condition of membership to the Australian Banking Association.
The Australian Banking Association welcomes the work of the Federal Government and the Financial Adviser Standards and Ethics Authority with the release of proposed guidelines on education standards for financial advisers.
Thousands of vulnerable Australians, from newly arrived refugees to customers experiencing domestic violence, have been helped by Australia’s banks as they roll out new programs aimed at improving access to financial products and increasing financial literacy.
The Australian Banking Association welcomes today’s ACCC interim report into residential mortgages, which clearly shows very high levels of discounting in the Australian home loan market. It’s clear that competition is delivering better deals for customers, shopping around works and Australians should continue to do so to get the best discounts on the advertised rate.
The upcoming Comprehensive Credit Reporting (CCR) reforms must be fair for all and ensure Australians who have experienced past financial difficulties are not discriminated against.
Banana growers in north Queensland affected by Panama disease are encouraged to contact their bank to access a range of hardship measures on offer.
The Australian Bankers’ Association has today called on the Federal Government to act now on financial abuse against the elderly and resolve three key issues by Christmas.
The passage through the parliament of the Australian Financial Complaints Authority Bill (AFCA) delivers a big win for Australian bank customers by creating a ‘one stop shop’ for resolving issues in the financial services industry.
The launch of the New Payments Platform will transform the banking experience for everyday Australians and put an end to the inconvenience of the ‘three day wait’.
Banks are excited to enter the Open Banking age that will spark new innovations and deliver cutting edge products, with customers the big winner.
The Australian Bankers’ Association will carefully analyse the Productivity Commission Draft Report, consult with its members and make a further submission to inform the final report expected mid-year.
When Australians reach to pay for something, the debit card, using their own money, is often their first choice.
In fact, debit card usage continues to outstrip all other cards, with a whopping 5.6 billion transactions over the year ending November 2017.
New analysis reveals Australians are becoming smarter in the way they manage their credit cards, with overall debt falling over the past year, the percentage of debt accruing interest at a historical low and a very low use of available credit card limits.
New research released today shows Australians believe banks are heading in the right direction, becoming more customer focused and are starting to see the Banking Reform Program – Better Banking deliver results.
Great news for Australian small businesses who are now paying $9 billion less in interest on current loans than compared to the same time in 2011, with the average interest paid the lowest in 20 years.
Fifteen banks will continue to provide fee-free ATM services for customers located in some of Australia’s most remote communities.
After hundreds of hours of development and more than 50 meetings with banks and key stakeholders over the past nine months, the new Banking Code of Practice has been sent to ASIC for approval.
Representatives of Australia’s mortgage broking industry have prepared a landmark reform package that will improve consumer outcomes and confidence in mortgage broking.
Australia’s banks have welcomed the Prime Minister’s decision to take action and provide certainty to the Banking industry to the benefit of the national economy and all Australians. Banks will fully co-operate with the Royal Commission.
Former Disability Discrimination Commissioner, Mr Graeme Innes AM, has been appointed by the Australian Bankers’ Association to head up a review of existing electronic accessibility standards.