BCCC Archives - Consumers' Federation of Australia

4 September , 2024

BCCC Releases 2023-2024 Annual Report, Deceased Estates a Focus of Investigation

From the Chair of the Banking Code Compliance Committee: This year we issued three sanctions to three banks for serious and systemic breaches of the Code [relating to deceased estates]. This action underscores our commitment to hold banks accountable for the promises they make under the Code and to respond firmly where we find serious…

26 June , 2024

Advocates Welcome Sanctioning of Westpac for Branch Closure

Financial Counselling Australia welcomes the sanctioning of Westpac for breaching the Banking Code of Practice when it closed its branch in Tennant Creek. The branch was suddenly shut in September 2022 leaving some customers with no access to money. “It was a complete mess and done with no consultation. Some people were unable to buy…

18 December , 2023

Increase in Banks’ Breaches of Financial Difficulty Obligations

Despite a decline in breaches overall, the latest report from the Banking Code Compliance Committee (BCCC) shows a concerning increase in breaches of bank obligations to support customers facing financial difficulty.

The report, Compliance with the Banking Code of Practice for January to June 2023, notes that breaches of obligations for dealing with customers facing financial difficulty have increased by nearly 40%.

This comes amidst a 9% decline in overall breaches, signalling a welcome success in efforts to improve practices.

29 September , 2023

Major Improvements Highlighted in BCCC Annual Report

Despite some continued questions from the Banking Code Compliance Committee (BCCC) and consumer groups about the lack of reported breaches, an article on the matter can be found here, the latest BCCC Annual Report does showcase some major improvements that BCCC has made over the last financial year.

9 August , 2023

Consumer Representative – Banking Code Compliance Committee

About the opportunity The Banking Code Compliance Committee (BCCC) is an independent body that monitors banks compliance with the Banking Code of Practice, helping banks create a better banking experience for customers. The BCCC’s work is supported by a dedicated team of staff at the Australian Financial Complaints Authority (AFCA) that provide Code monitoring and…

17 July , 2023

Banking Code Compliance Committee Prioritises Bank@Post’s Compliance with the Code

The Banking Code Compliance Committee (BCCC) is working with the Australian Banking Association (ABA) to coordinate with 12 of its members to ensure banking services offered through Bank@Post comply with the Banking Code of Practice.

Bank@Post arrangements provide a valuable face-to-face service, particularly as banks close branches, especially in regional and remote areas.

The BCCC wants to ensure, as a priority, that important consumer protections have been implemented for the services banks offer through Bank@Post.