Media Release: CCMC announces Inquiry into banks’ conduct when accepting and enforcing Guarantees

The independent Banking Code Compliance Monitoring Committee (CCMC) has announced its Inquiry into banks’ compliance with the Guarantee protections set out in the 2013 Code of Banking Practice.

The Inquiry was prompted by the increasing number and severity of breaches by banks of the guarantee protections in the Code and the case studies cited in the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

The CCMC invites and encourages individuals, small business customers, and their representatives to engage with us in this Inquiry, to share any insights, case studies and areas of concern or to provide any general feedback.

The CCMC is interested to hear from all and can be contacted by email dstevens@codecompliance.org.au or by telephone on (03) 9099 2295.

Information about the CCMC is available on its website, www.ccmc.org.au.

 

Further information:

Donna Stevens

Code Compliance Manager

Banking Code Compliance Monitoring Committee

dstevens@codecompliance.org.au

(03) 9099 2295