Building trust in customer owned banking

Direct Debit follow-up review reveals disappointing level of compliance

The ability to cancel a direct debit arrangement helps consumers maintain control of their finances and is especially important for those experiencing financial hardship. Under section 20.1 of th...

Compliance with privacy obligations still an issue

Privacy and data security compliance will become both more complex to manage and more important as Australia moves towards implementing open banking. Yet a recent inquiry identified a concerning ...

Own Motion Inquiry ‘Direct Debit’

Section 20.1 of the Customer Owned Banking Code of Practice (the Code) gives customers the right to ask their institution to cancel a direct debit and requires the institution to action such a re...

Annual Compliance Report 2017-18

The Customer Owned Banking Code Compliance Committee (the Committee) released its Annual Compliance Report 2017-18. A copy of the report can be downloaded here.

The Committee welcomes an incre...