2007

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2007

Review of the Code of Banking Practice

Sydney, 21 December, 2007: The review of the Code of Banking Practice is now underway with the appointment of independent consultant Jan McClelland to conduct the review.

Fraud incidence remains low

Sydney, 17 December, 2007: Fraud incidence remains low according to the latest data from the Australian Payments Clearing Association (APCA).

Joint Media Release - Safe shopping online over the festive season

December 13, 2007: Consumers are reminded to take care when making online shopping purchases in the lead up to Christmas following a warning from the Australian Bankers’ Association (ABA) and the Australian Federal Police (AFP).

Credit card spending and repayments over the holiday period

Sydney, 12 December, 2007: The Australian Bankers’ Association (ABA) is reminding bank customers to give some thought to their financial position before taking on increased spending over the Christmas and holiday period.

Balancing reform of Australias consumer policy framework with regulatory impact on business

Sydney, 12 December, 2007: The Australian Bankers’ Association (ABA) said getting the right balance between reforms to Australia’s consumer policy framework with the regulatory impact on Australian businesses will be a critical component of implementation of the Productivity Commission’s proposals in its draft report into the review of Australia’s Consumer Policy Framework.

Banking sector continues work on narrowing the digital divide

Sydney, 3 December, 2007: The Australian Bankers’ Association (ABA) has worked with community groups and other financial services sector representatives to produce guiding principles to assist banks in making retail banking even more accessible to people with disabilities and older Australians.

Pleasing results for ABA member banks in the Ombudsmans annual report

Sydney, 3 December, 2007: The Australian Bankers’ Association (ABA) analysis of the Banking and Financial Services Ombudsman (BFSO) annual report 2006-07 shows a positive outcome for ABA member banks.

Australian Bankers Association welcomes the new Rudd Ministry

Sydney, 30 November, 2007: The Australian Bankers’ Association (ABA) welcomed the new Ministry which was announced yesterday by Prime Minister-Elect, Kevin Rudd.

Consumers further assisted with more detailed information on exception fees

Sydney, 28 November, 2007: The Australian Bankers’ Association (ABA) has published a new fact sheet on exception fees providing even more detailed information to bank customers.

Smarter Investing: Build wealth and secure your future

Sydney, 12 November, 2007: Investing wisely can help you achieve your financial goals and now there is a new, free booklet which could assist in producing greater understanding of the investment basics.

Profitable Banks Continue Strong Contribution to Superannuation Savings And Retirees Income

Sydney, 9 November, 2007: The Australian Bankers’ Association (ABA) estimates that this year around $14.2 billion worth of dividends or almost 70% of bank profits will flow through to Australians’ superannuation accounts and to other owners of bank shares.

Bank branches up 10% over last six years

Sydney, 8 November, 2007: The number of bank branches has increased for the sixth successive year, according to a survey released today by the Australian Prudential Regulation Authority (APRA).

Interest Rate Pricing Decisions

Sydney, 6 November, 2007: In response to advice to banks on how to price housing loans, the Australian Bankers’ Association (ABA) reiterates that pricing decisions should remain fully the responsibility of those bankers with the necessary skills and accountability to make informed decisions within the competitive market.

Farmers and Bankers Meet to Discuss Drought

Representatives from the Australian Bankers’ Association (ABA) met with the Victorian Farmers Federation (VFF) yesterday to discuss the ongoing drought and its impact on agricultural finance

Comments on banking funding costs

Sydney, 24 October, 2007: The Australian Bankers’ Association (ABA) does not have any involvement in the pricing of bank products such as commercial or household loans.

Banks and farmers look at drought long-term

Sydney, October 11, 2007: The Australian Bankers’ Association (ABA) has this week met with State-based farming organisations to discuss the impact on farmers whose wheat crop has failed but have hedged the price of their wheat or forward sold their crops to grain merchants.

Australian Bankers Association welcomes tax reform on financial arrangements

Sydney, 21 September, 2007: The Taxation of Financial Arrangements (TOFA) Bill is a significant tax reform which will reduce the compliance burden for Australian banks.

FICA comes together with financial regulators to improve the process of financial regulation

Finance Industry Council of Australia (FICA) chair and IFSA CEO, Richard Gilbert, acknowledged the goodwill demonstrated by all involved in yesterday’s landmark conference on ‘Financial Regulation: Costs, Benefits and the Process of Regulatory Change’ in Melbourne.

ABA response to report on home loan lending

Sydney, 17 September, 2007: The Australian Bankers’ Association (ABA) has welcomed a report which makes recommendations to fight against predatory lending in Australia.

ABA welcomes APCA consultation on account switching arrangements

Sydney, 11 September, 2007: The Australian Bankers’ Association (ABA) has welcomed the Australian Payments Clearing Association (APCA) release of its consultation document regarding portability of debit and credit instructions.

Industry and Consumer Groups come together to fight against predatory lending

Consumer groups and financial industry bodies have formed a new coalition to discuss mounting concerns about predatory lending.

Joint Media Release - Farmers urged to contact their bank if worried about finances

The National Farmers’ Federation (NFF) and Australian Bankers’ Association (ABA) are encouraging farmers – especially those still awaiting winter rains – to keep in contact with their bank if they are concerned about their financial circumstances.

ATM Reform – Customer Education Starts Today

Sydney, 31 August, 2007: The Australian Banker’s Association (ABA) said with the Reserve Bank of Australia’s (RBA’s) announcement of a process to introduce ATM direct charging, customer education of the new ATM system must commence today.

Exception fees fact sheet published today

Sydney, 1 August, 2007: The Australian Bankers’ Association (ABA) today published a fact sheet on exception fees that provides consumers with transparent information. This will help consumers make informed decisions on bank account choices and manage their accounts more effectively.

EFTPOS Governance

Sydney, 2 August 2007: The Australian Bankers’ Association (ABA) and Australian Payments Clearing Association (APCA) are currently considering options for establishing a centralised commercial governance structure responsible for the promotion and development of the EFTPOS system.

Bank price changes below inflation

Sydney, 1 August 2007: Australian Bureau of Statistics’ (ABS) results for the Consumer Price Index (CPI) for the year to June 2007 show that financial services prices grew by only 1.3 per cent compared with 2.1 per cent for the overall CPI.

Joint Media Release - Smarter Super: Invest in Your Future and Make the Most of Your Retirement

Sydney, 31 July, 2007: The Australian Bankers’ Association (ABA), the Financial Planning Association of Australia (FPA) and the Investment & Financial Services Association (IFSA) have updated the free consumer financial literacy guide – Smarter Super – Invest in your future and make the most of your retirement.

SMARTER BANKING FOR SMALL BUSINESS - New website resource to help small business

Sydney, 26 July, 2007: The Australian Bankers’ Association’s (ABA) member banks have worked together to deliver a new website where small business people can access information which may assist in running and growing their enterprises.

Latest credit card data shows strong repayment activity continues

Sydney, 24 July 2007: While the total balance outstanding for credit cards was $40.2 billion at the end of May 2007, an important point to note is that annual repayments are greater than new spending.

John Stewart Elected as New Chairman of the Australian Bankers Association

Sydney, 17 July, 2007: The Council of the Australian Bankers’ Association (ABA) has elected John Stewart, National Australia Bank’s Group Chief Executive Officer, as the new ABA Chairman, and as the Deputy Chairman, Stuart Davis, Chief Executive Officer of HSBC Bank Australia, who will continue in this role.

Australian Bankers Association welcomes ASIC enhancements to make regulatory decisions and processes transparent

Sydney, 5 July, 2007: The Australian Bankers’ Association (ABA) welcomes changes introduced today by the Australian Securities and Investments Commission (ASIC) to improve access to regulatory documents.

Banks have published more customer information on how to avoid exception fees

Sydney, 2 July, 2007: Banks have released more information on how to avoid exception fees to provide greater transparency to consumers.

Joint Media Release - Farmers encouraged to take control of their finances in this new financial year

Sydney, 2 July, 2007: Farmers are being reminded that with the start of a new financial year once again upon us it’s time to get smart about their business and focus on financial management.

Statement for the record

Sydney, 26 July, 2007: The Australian Bankers’ Association (ABA) yesterday wrote to the “The Daily Telegraph” regarding the article - Consumers caught by credit card creep.

Credit Card Phone Scam

Sydney, 21 June, 2007: The Australian Bankers’ Association (ABA) is warning of a scam in which criminals are attempting to obtain consumers’ personal information via telephone.

Banks and the ABA to provide the community more information on exception fees

Sydney, 19 June, 2007: The Australian Bankers’ Association (ABA) today reminded consumers that exception fees can be avoided and encouraged them to monitor their accounts to avoid incurring fees.

ABA welcomes Non-Operating Holding Company legislation

Sydney, 18 June, 2007: The Australian Bankers’ Association (ABA) welcomed the passage of the Financial Sector Legislation Amendment (Restructures) Bill 2007.

Banks continue to protect customers from fraud losses ABA submission to ASIC on EFT Code

Sydney, 6 June, 2007: The Australian Bankers’ Association (ABA) said the banking sector will continue to protect customers from fraud losses related to Internet banking.

ABA Welcomes Review of Payments System Reforms

Sydney, 30 May, 2007: The Australian Bankers' Association welcomes yesterday's release of the Reserve Bank of Australia’s (RBA) consultation document regarding the 2007/08 review of payments systems reforms.

Retail banking industry supports Indigenous Statement of Commitment

Sydney, 27 May, 2007: The retail banking sector is supporting an industry Indigenous Statement of Commitment which outlines how banks may make a difference for Indigenous people and their communities.

Payments System Fraud Statistics from Australian Payments Clearing Association

Sydney, 25 May, 2007: Banks have extensive security systems in place and work around the clock to protect customers from fraud.

Red tape reductions welcomed on Financial Services Reforms

Sydney, 24 May, 2007: The Australian Bankers’ Association (ABA) has welcomed the Federal Government’s commitment to reducing red tape which should result in a better experience for bank customers.

Customers continue to choose lower fee banking options

Sydney, 17 May, 2007: The average price of banking services in Australia continues to fall, according to a report by Macquarie University academic, Professor Kim Hawtrey.

No understatement of housing default statistics

Sydney, 16 May, 2007: The Australian Bankers’ Association (ABA) says the regularly published statistics on the state of the housing market accurately reflect defaults in household lending.

Joint Media Release - Improving the regulation-making and review process – banking and finance sector supports Business Checklist for new federal laws

Sydney, Australia, 14 May, 2007: The Finance Industry Council of Australia (FICA), which represents the combined interests of Australia's foremost financial sector associations, has joined a business alliance to support the ‘Business Checklist for Commonwealth Regulatory Proposals’.

Information to be provided to the community on exception fees

Sydney, 11 May, 2007: The Australian Bankers’ Association (ABA) and member banks will provide the community more information on exception fees. There has been extensive community debate regarding these fees.

Budget 2007-08: Banking sector welcomes continuing drought assistance

Sydney, 8 May, 2007: The Australian Bankers’ Association (ABA) has welcomed the key initiatives in the 2007-08 Budget which continue the assistance to farmers and our rural communities during this prolonged drought.

Warning to Internet users about hoax e-mail

Sydney, 8 May, 2007: The Australian Bankers’ Association (ABA) is warning the public of a hoax e-mail scam that is targeting Internet users.

Banks Maintain Strong Lending Standards Compared to Other Lenders

Sydney, 30 April, 2007: The Australian Bankers’ Association (ABA) said more evidence has emerged that banks’ lending standards are sound when compared to other lenders such as non-conforming lenders.

Banks Continue to Assist Communities in the Murray Darling Basin

Sydney, 23 April, 2007: The Australian Bankers’ Association (ABA) said the banking industry recognises the seriousness of the drought affecting the country, including the Murray Darling Basin (MDB), and member banks will continue in their resolve to support viable customers during these difficult times.

Warning: Email Scams Targeting Businesses

Sydney, 12 April, 2007: The Australian Bankers’ Association (ABA) is warning Australian businesses of money transfer email scams which target export businesses.

Strong growth in finance sector jobs

Sydney, 5 April 2007: The Australian Bankers’ Association (ABA) said ABA analysis of labour market statistics shows domestic employment in the finance sector has grown strongly.

New chairman for International Banking Federation

Sydney: David Bell, Chief Executive of the Australian Bankers’ Association, has been elected as the new Chairman of the International Banking Federation (IBFed) following the retirement of Ian Mullen, Chief Executive of the British Bankers’ Association.

Joint Media Release - Protect Your Financial Identity Website provides practical prevention tips

Sydney, 26 March, 2006: Banks, police and the Australian Securities and Investments Commission (ASIC) are urging consumers to take some steps to minimise the risk of criminals committing identity theft.

Youth and Credit Cards

Sydney, 15 March 2007: The Australian Bankers’ Association (ABA) said banks are responsible lenders when approving credit to customers including young people. The ABA was responding to a media release from NSW Fair Trading Minister Diane Beamer which criticised banks’ lending standards.

Senate Review on Access Card Bill

Sydney, 5 March, 2007: The Australian Bankers’ Association (ABA) wants to ensure that requirements of banks regarding the Access Card do not conflict with obligations under the Commonwealth Government’s Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) laws.

Fraud Prevention Banking Industry Supports Scamwatch Campaign

Sydney, 5 March, 2007: The Australian Bankers’ Association (ABA) continues to inform bank customers about fraud prevention measures to minimise the impact of criminal activity aimed at defrauding individuals through scams.

Australian Bankers Association supports CAMAC examination of Sons of Gwalia ruling

Sydney, 8 February, 2007: The Australian Bankers’ Association (ABA) has welcomed the announcement by the Parliamentary Secretary to the Treasurer, Chris Pearce, that the Corporations and Markets Advisory Committee (CAMAC) is to provide advice and report on the issues arising from the High Court decision in the Sons of Gwalia case.

Sons of Gwalia decision

Sydney, 2 February 2007: The Australian Bankers’ Association (ABA) says that the Sons of Gwalia High Court decision will result in additional complexity and cost in the unsecured business lending market.

Four facts on the banking industry labour market

Sydney, 1 February 2007: The Australian Bankers’ Association (ABA) said recent analysis by the ABA shows some very positive characteristics of employment within the banking sector.

Consumer Price Index: Banking Prices

Sydney, 25 January 2007: The Australian Banker’s Association says that the consumer price index (CPI) data released yesterday shows that the consumer cost of banking services has increased at less than one third the rate of the broader CPI.

EFT Code Review & Credit Card Repayments

Sydney, 22 January 2007: The Australian Bankers' Association (ABA) is responding to some inaccurate media reporting today regarding the EFT Code Review and credit card debt.