14 November 2024
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 to provide the customer with extra care, and
• what steps a bank should take to try to assist a customer experiencing vulnerability avoid or minimise harm.
Latest news
Australian banks continue to back growth and innovation across the farming sector with agribusiness lending now at record levels, exceeding $131 billion for the first time. The Australian Banking Association is highlighting the banking sector’s ongoing support for Aussie farmers this National Agriculture Day. Lending to agribusinesses has skyrocketed over the last year, rising 9.4 per cent in… Read more »
The ABA welcomes the introduction into the Parliament of critical scam fighting legislation to better protect Australians. ABA CEO Anna Bligh said the Federal Government’s proposed Scams Prevention Framework is the best way forward to prevent, detect, report, disrupt and respond to scams. “This is an important step forward in our ongoing work to scam-proof… Read more »
Banks stand ready to support Far West NSW communities hit by recent storms and ongoing power outages. ABA CEO Anna Bligh acknowledged that many households and businesses in the Far West were still feeling the effect of this severe weather event. “My message to customers in these communities, is please reach out to your bank… Read more »