Code compliance

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The Banking Code Compliance Committee (BCCC) recognises that both Code subscribing banks and their customers are facing unprecedented challenges due to the COVID-19 pandemic. The BCCC welcomes the various initiatives announced by the ABA to assist customers to meet these challenges. It believes that these measures will contribute to the fair treatment of customers. Customers…

Read More Banking Code Compliance Committee response to bank and customer COVID-19 challenges

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The Banking Code Compliance Committee (BCCC) has published a Guidance Note on clause 10 of the 2019 Banking Code of Practice (the Code). Clause 10 of the Code requires a Code subscribing bank to engage with customers in a fair, reasonable and ethical manner. Clause 10 is one of the Code’s most important obligations and should be embedded within…

Read More Banks must be fair, reasonable and ethical in all circumstances

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On 17 December 2019, the Australian Banking Association announced a revised version of the Banking Code would take effect from 1 March 2020. The changes to the Code address recommendations from the Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. The changes include: ceasing default interest on…

Read More Revised version of the Banking Code in effect from 1 March 2020

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The Customer Owned Banking Code Compliance Committee (the Committee) is pleased to release its Annual Report 2018-19. The Annual Report demonstrates how subscribers to the Customer Owned Banking Code of Practice (the Code) have met their compliance obligations, managed Code breaches and responded to customer complaints throughout the year. It provides an overview of the Committee’s work during…

Read More Subscribers to the Customer Owned Banking Code of Practice need to focus on improved customer service delivery

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Two key reports released on Friday by the Banking Code Compliance Committee (BCCC) contain important findings for the industry, including: Significant concerns about the reporting of breaches under the 2013 Code of Banking Practice during 2018-19. Banks will need to continue ongoing efforts in order to meet the BCCC’s expectations and the higher standards of…

Read More Reports lead to concern about banks’ breach reporting as they transition to the 2019 Code

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The Customer Owned Banking Code Compliance Committee (the COBCCC) seeks a consumer representative to serve for a term of three years beginning in March 2020.  The COBCCC is an independent compliance monitoring body established under Section 4 of the Customer Owned Banking Code Compliance Committee Charter and Part E of the Code, under the authority of the Board of…

Read More Consumer Representative Opportunity: Customer Owned Banking Code Compliance Committee

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The Economic Regulation Authority (ERA) is calling for expressions of interest for representatives from industry and consumer groups to join the Electricity Code Consultative Committee. The Committee provides the ERA with advice on the Code of Conduct for the Supply of Electricity to Small Use Customers. The Code applies to residential and non-residential small use…

Read More Electricity Code Consultative Committee Call for expressions of interest

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The Insurance Brokers Code Compliance Committee (the Committee) has released its Annual Review 2018–19. This year’s Annual Review highlights a number of key areas where insurance brokers need to make significant improvements, for the sake of the industry and their clients. A snapshot of the key findings reveals that: The number of self-reported Code breaches increased…

Read More Review finds insurance brokers need to take their Code obligations more seriously

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The Code Governance Committee (the Committee), has launched its website insurancecode.org.au. The Committee’s website is an independent resource for consumers, small business and Code subscribers that will be periodically updated with news about its work and publications. The Committee’s website includes: information about the Committee and what it does, the Code and Code subscribers information…

Read More General Insurance Code Governance Committee launches website

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Changes to the Australian Consumer Law will clarify prices for people shopping online. From 26 October 2019, businesses must include all charges in the advertised price of goods and services payable by a consumer. This includes charges for pre-selected options.  Currently, a business can advertise a low price; during the buying process, they may add extra…

Read More Businesses to display all charges up front

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There are thousands of products available in Australia, with each being produced by multiple brands. To ensure that these products work safely, the Australian product safety system relies on the cooperation of consumers, suppliers, and government agencies. More information here. The Commonwealth Treasury is undertaking a consultation on Improving the Effectiveness of the Consumer Product Safety System by…

Read More Seeking views from consumers on their experiences relating to product safety