The Banking Code of Practice is an important pillar of the financial services regulatory framework, setting a high standard of customer protections for Australians. It provides customers with safeguards and protections that are not set out in law. As subscribers to the Code, ABA member banks remain committed to meeting a higher standard of customer protections for Australians. This latest update of the Code is the culmination of an extensive review and has been developed in consultation with consumer representatives, small business organisations and regulators. The review has resulted in significant uplift of Banking Code provisions and includes additional protections for small business customers, guarantors, vulnerable customers and customers requiring additional support. This updated Code has again been approved by the Australian Securities and Investment Commission (ASIC). I look forward to the Banking Code of Practice continuing to improve the banking experience for all customers. Anna Bligh CEO, Australian Banking Association Foreword by ABA CEO Anna Bligh Banking Code of Practice | 5
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