Banks face 'naming and shaming' under new code to protect struggling customers

Banks face 'naming and shaming' under new code to protect struggling customers

The updated banking code strengthens protections for struggling customers and introduces "naming and shaming" for banks failing to meet new standards.

New rule book for banks to strengthen customer protections

Download radio grabs from ABA CEO Anna Bligh here & view the Code video here. Continuing to drive better outcomes for customers is the key focus of the ABA’s new Banking Code of Practice, being launched today. This new rule book for banks provides customers with safeguards that are not set out in law and includes new provisions offering greater protection for small businesses, guarantors and vulnerable customers.   At its centre is an expanded d…

New rules for banks to help customers in stress

Banks that breach a new code of practice could have their failures publicised, like those who recently charged dead customers or closed branches without notice.