The Banking Code Compliance Committee is an independent body that monitors banks’ compliance with the Banking Code of Practice. By driving best practice Code compliance, our aim is to improve standards of service in the Australian banking industry – ultimately helping banks to create a better banking experience for customers.
What we do
To improve banks’ code compliance and service standards, we:
- examine banks’ practices
- identify current and emerging industry-wide problems
- recommend improvements to bank practices
- sanction banks for serious compliance failures, and
- consult with stakeholders and the public, and keep them informed.
Our strategic priorities for 2021-24 are to:
- improve the visibility of the BCCC
- enhance our intelligence sources and identify important issues
- expand our engagement with consumer stakeholders
- hold banks to account and apply sanctions for breaches of the Code, and
- follow up our monitoring activities and seek to ensure banks remediate customers and improve practices.
Our business plan sets out the priority areas and activities we will undertake to this year to achieve our strategic priorities. The following represent the priority areas that the BCCC will likely focus on in 2021–22:
- challenges caused by the COVID-19 pandemic, including financial difficulty
- customers experiencing vulnerability
- small business and farming customers
- banks’ organisational capability to comply with the Code
- deceased estates
- banks’ communications with customers and provision of information
The Committee’s day-to-day work is supported by a secretariat at the Australian Financial Complaints Authority. The secretariat provides operational and administrative support under a service agreement between the Committee, the Australian Banking Association and AFCA. This agreement protects the independence of the Committee’s governance, processes and decision-making.
Find out more
Meet the members of our Committee.
Learn about the Charter that sets out our role, functions and powers.
Learn about how we monitor and enforce banks’ compliance with the Code.
Meet the BCCC’s Secretariat
Read our annual reports on Code compliance results and the Committee’s monitoring activities.
Learn about the BCCC’s Small Business and Agribusiness Advisory Panel
The Committee was formerly known as the Code Compliance Monitoring Committee or CCMC. The CCMC monitored compliance with the 2004 and 2013 versions of the Code. The BCCC has the power to monitor compliance with the 2019 Code and these earlier versions of the Code.
Learn about the CCMC