The guidance will help FIs develop alternative customer identification and verification procedures to help customers that are unable to meet standard ID requirements.
December 9, 2022Some banks, such as Westpac, have already begun to implement practices within the guideline. Others will roll out the practices over the next 12 months.
November 2, 2021The review seeks input on whether CDR laws provide adequate data protection and how effective the Code has been in supporting consumers during Covid-19.
July 13, 2021Firms providing debt management services need to apply to ASIC for a credit licence and become a member of AFCA by 30 June 2021.
May 10, 2021The ABA is calling on governments across Australia to establish consistent power of attorney laws across the country and a national POA register.
April 7, 2021The government will guarantee up to 80 percent of the loans under the scheme, while also increasing the loan limit and allowing larger businesses to also benefit.
March 12, 2021No customer is going to wake up the day after 31 March and find that there is some legal action being taken by their bank on their loan, said ABA CEO Anna Bligh.
February 22, 2021Banks will have to report expanded information about the credit history of their customers to credit agencies, paving the way for more competition in the lending market.
February 8, 2021The ABA says 45% of deferred mortgages and 41% of small and medium business loans that had been deferred are back to making regular loan repayments.
October 15, 2020The plan includes the development of a digital identity system, modernisation of business registers, rollout support for the CDR, and regtech/fintech initiatives.
October 2, 2020