BCCC publishes 2021-24 Strategic Plan and 2021-22 Business Plan

The Banking Code Compliance Committee (BCCC) has published its 2021-24 Strategic Plan and 2021-22 Business Plan.

The  2021-24 Strategic Plan outlines the areas we will focus on to achieve our purpose for the period 2021–22 to 2023–24, including taking action to:

  • improve the visibility of the BCCC
  • enhance our intelligence sources and identify important issues
  • expand our engagement with consumer stakeholders
  • hold banks to account and apply sanctions for breaches of the Code, and
  • follow up our monitoring activities and seek to ensure banks remediate customers and improve practices.

The BCCC’s 2021–22 Business Plan sets out the priority areas and activities it will undertake to meet the objectives in the Strategic Plan over the next 12 months. The following represent the priority areas that the BCCC will likely focus on in 2021–22:

  • Challenges caused by the COVID-19 pandemic, including financial difficulty
  • Customers experiencing vulnerability
  • Small business and farming customers
  • Banks’ organisational capability to comply with the Code
  • Deceased estates
  • Banks’ communications with customers and provision of information

The plans have been published on the Publications and governance documents page on the BCCC website.

Source: Banking Code Compliance Committee (BCCC), 29th June 2021.

Enjoy this article? Sign up to our monthly newsletter and stay up to date on the latest consumer policy news.