New Banking Code of Practice enforced from 1 July supported by CBA

The implementation of the Australian Banking Association’s new Banking Code of Practice (the Code) on today has been welcomed by Commonwealth Bank of Australia (CBA).

CBA is committed to the principles in the Code, which have been approved by the Australian Securities and Investments Commission, and to the improved standards which will provide better banking service and practice for Australians.

“This new Code supports the progress we are making to do what is right for our customers and earn back trust,” said Matt Comyn, CBA chief executive officer.

Key changes to the Banking Code include:

The new Code provides strong, enforceable, and more customer-focused standards for banks to deliver, and aligns with CBA’s commitment to improve the financial wellbeing of customers and communities.

Re-disseminated by The Asian Banker

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