Building trust in customer owned banking

Committee welcomes updated ASIC guidance on handling of complaints and disputes

On 5 October 2021, ASIC’s Regulatory Guide RG 271 Internal Dispute Resolution (RG 271) came into effect.  RG 271 sets new standards and requirements for complaints-handling across the financia...

Investigations can be a learning tool

Allegations of a breach of a Code of practice can be a useful learning tool even if a formal investigation finds no Code breach.

This was the outcome of a Code breach allegation recently inves...

Customer Owned Banking Code Compliance Committee releases Annual Report for 2020-21

USING THE INDUSTRY CODE TO SUPPORT CUSTOMERS AND INDUSTRY THROUGH CHALLENGING TIMES
The independent committee that monitors the Customer Owned Banking Code of Practice (the Code) has released it...

Customer Owned Banking Code Compliance Committee Follow-Up Inquiry into consumer credit insurance

A follow-up inquiry into consumer credit insurance (CCI) has shown that, while customer owned banking institutions have stopped selling add-on CCI, they still have a duty to their customers when ...