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A court has ruled that a bank must have a valid commercial reason to terminate a banking relationship and that it cannot always rely on contract terms to give a “bare termination notice” without reasons.
Financial institutions reporting no or a low number of breaches of their code compliance obligations might look like good news, but that is not how the Customer Owned Banking Code Compliance Committee sees it.
The FBAA has encouraged brokers to educate themselves on how to recognise elder financial abuse in clients amid increasing cases. Addressing new brokers entering the broking sector ahead of the 2022 N
Customer-owned banking institutions will need to apply more stringent measures to ensure vulnerable customers are identified and supported.
The financial complaints body has recruited a new leader for its compliance and monitoring team. Prue Monument has joined the Australian Financial Complaints Authority (AFCA) as general manager of co