27 June 2024 - Speech by ASIC Chair Joe Longo at the Australian Banking Association Conference, 27 June 2024.

Putting customers at the centre of banking

Speech by ASIC Chair Joe Longo at the Australian Banking Association (ABA) Conference, 27 June 2024.

KEY POINTS

  • Banks have a serious impact on the lives of Australians. When the customer is at the heart of their operations, that impact is for the good.
  • Following consultation, ASIC has approved the new February 2025 Banking Code of Practice. As self-regulatory initiatives, industry codes have the potential to deliver real benefits to consumers, small businesses and subscribing entities.
  • ASIC will continue to remain focused on the need for enhanced consumer protections, including in relation to proactively identifying customers eligible for basic bank accounts, the proactive identification of consumer vulnerability, and protections for loan guarantors.

Financial Education Professionals acknowledges the Traditional Owners of Country throughout Australia. We pay our respects to Elders past, present and emerging.