In March 2017, the Code Compliance Monitoring Committee (CCMC) commenced an investigation into a bank’s compliance with the 2013 Code as a result of a referral from the bank’s External Dispute Resolution scheme. The BCCC had carriage of the matter from 1 July 2019 in accordance with its Charter.

Following the investigation, and with reference to the outcomes of an external investigatory Audit the bank was required to undertake, the BCCC found the bank breached the following 2013 Code provisions and that the breaches were systemic and/or serious as indicated below:

Clause 32.1 (debt collection)

Systemic and serious
Clause 28.2 (financial difficulty)

Systemic and serious
Clause 37 (complaints handling)

Systemic and serious
Clause 24 (privacy and confidentiality)

Systemic and serious
Clause 9 (staff training and competency)

Systemic and serious
Clause 36(g) (complying with CCMC’s requests)

Serious
Clause 3.2 (fair and reasonable conduct)

Systemic and serious

Download the Finding to read about the key issues and reasons for the Finding.