Media releases

1) Review of the Code of Banking Practice – issued by the Australian Bankers’ Association, 21 December 2007.

 This statement explains that the review of the Code of Banking Practice is now underway with the appointment of independent consultant Jan McClelland to conduct the review. It contains the terms of reference.

2) Wide consultation on Code of Banking Practice - issued by Independent Reviewer Jan McClelland, 7 April, 2008

This media release from Independent Reviewer Jan McClelland responds to a statement which was issued by Senator Fielding on Monday 7 April 2008

3) Independent Reviewer releases Issues Paper on the Code of Banking Practice, 28 May 2008

An Issues Paper on ways to improve the Code of Banking Practice was release by the Independent Reviewer, Jan McClelland, following extensive consultations with consumer groups, regulatory bodies, banks and other interest groups.

4) Submissions to the Banking Code of Practice Review close on 31 July

Following requests by consumer and banking industry groups for additional time to prepare their responses to the issues paper, Ms McClelland has extended the date to lodge formal submissions to the Review of the Code of Banking Practice to 31 July 2008.

5) Banking Code of Practice Review submissions closed, report underway, 20 August 2008

The Banking Code of Practice Review has received more than 35 submissions and held consultations with more than 90 organisations and individuals across Australia, Independent Reviewer, Jan McClelland announced today.

6) Banking Code Review recommends “responsible lending” guidelines for Australian banks, 16 December 2008

Australian banks have been urged to include a clear commitment to “responsible lending” in the industry’s code of practice, including a commitment to carefully assess applications for credit that may result in financial hardship.