Standards

19 November , 2022

Consumer experiences sought for a new inquiry into guarantees

The Banking Code Compliance Committee (BCCC) wants to hear from people about their experiences acting as a guarantor for a loan, to check whether banks have improved their practices since a BCCC inquiry last year found serious failures. The BCCC monitors banks’ compliance with the Banking Code of Practice, which includes obligations to ensure people…

9 February , 2017

Australians need a one-stop-shop ombudsman to deal with banking & finance complaints

Getting problems with your bank, insurance or finance company solved fairly and quickly is too hard and Australia needs a one-stop-shop ombudsman for financial service problems, say leading consumer advocates. In a submission endorsed by eight consumer organisations provided to the Ramsay Review into External Dispute Resolution in the banking and finance sector, advocates have…

1 February , 2017

Financial Counsellors Welcome “Better Banking” … but Where’s the Funding for Financial Counselling?

Financial counsellors welcome today’s commitment by the banking industry to better banking, including making financial hardship support programs more accessible and setting up a debt repayment service. But the big question remains: why is there still no funding for financial counselling? Most of the clients seen by financial counsellors have debts with banks, yet the…

7 December , 2016

CHOICE welcomes inquiry into banking sector

Consumer advocacy group CHOICE has welcomed the establishment of a Senate Inquiry that will examine cases of wrongdoing in the banking and financial services sector. “Sunlight is the best disinfectant. This inquiry gives us a chance to shine a light on the anti-consumer practices that are riddled throughout the banking system,” says CHOICE Head of…

4 October , 2012

CHOICE says Australian’s deserve full interest rate cut

Banks have an opportunity to put consumers and competition first.

13 September , 2012

Report reveals differences in how banks treat Victorians doing it tough

CBA and Westpac need to ‘lift their game’ according to the FCRC.

27 May , 2012

ASIC welcomes remote community fee-free ATM transactions

ASIC has welcomed moves by the banking sector and two independent ATM providers to provide free ATM transactions at 76 ATMs in remote Indigenous communities.