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Media Releases

Today’s announcements by the RBA, APRA and the Treasurer are welcome initiatives to support lending.

COBA has welcomed moves by regulators to revisit the timing of new regulatory measures to give banking institutions more capacity to focus on their customers.

The Customer Owned Banking Association (COBA) is calling on Federal Government to reconsider the approaching wave of banking regulation as the low interest rate environment squeezes competition.

The Customer Owned Banking Association (COBA) has welcomed Federal Government’s decision to crack down on fraudulent number porting with the introduction of stronger identity verification processes.

The Customer Owned Banking Association (COBA) is warning Australians against the manipulative wiles of romance scammers ahead of Valentine’s Day. According to the Australian Competition & Consumer Commission’s Scamwatch, almost 4,000 dating and romance scams were reported in 2019, with losses of more than $28.6 million.

Customer owned banks have experienced a surge of interest from potential home buyers ahead of 1 February, when the majority of loans under the First Home Loan Deposit Scheme will be released.

The Customer Owned Banking Association is warning banking customers in bushfire impacted areas to be alert to scam phone callers falsely claiming to represent a monitoring service.

Australia’s mutual banks, credit unions and building society express our deepest sympathies to those impacted by the devastating bushfire emergency across the country and stand ready to assist customers that are impacted.

New data shows the customer owned banking sector’s consistently strong financial performance ranks the sector comfortably in the top 50 corporate taxpayers.

The Customer Owned Banking Association congratulates the 20 customer owned banking institutions appointed today to the First Home Loan Deposit Scheme (FHLDS) panel.

An independent report by KPMG has found the customer owned banking sector has performed strongly despite the economic headwinds and challenges facing the retail banking market.

Australia’s customer owned banking sector’s premier annual convention, COBA 2019, begins today at Queensland’s Gold Coast Convention and Exhibition Centre.

Credit unions around the world are celebrating the 71st International Credit Union Day, an annual international observance that recognises the significant contribution credit unions make to the community.

The Customer Owned Banking Association welcomes the Australian Competition and Consumer Commission’s inquiry into home loan pricing and competition in the retail banking market.

It’s been eight months since Commissioner Kenneth Hayne handed down the final report of the Financial Services Royal Commission and its 76 recommendations. Eight months since Commissioner Hayne’s awkward photo opportunity with Treasurer Frydenberg.

Almost 90 per cent of customers of customer owned banking institutions declared themselves satisfied with their institutions, according to new research from Roy Morgan.

Australia’s customer owned banking sector welcomes reports that the Australian Competition and Consumer Commission (ACCC) is requesting to conduct an inquiry into the banking industry’s competitiveness.

The trend of Australians choosing to bank with customer owned banking institutions has continued, according to the latest Quarterly ADI Statistics released by the Australian Prudential Regulation Authority.

The Customer Owned Banking Association welcomes the introduction of legislation into Parliament today that will implement the First Home Loan Deposit Scheme (FHLDS).

More than 30 CEOs and Directors from customer owned banking institutions will arrive in Canberra today to remind Members of Parliament to keep competition in mind as the Financial Services Royal Commission recommendations are implemented.

Australia’s customer owned banking institutions are urging Australians to be scam smart as scammers ramp up activity in Australia.

The Customer Owned Banking Association has congratulated APRA for agreeing to more actively champion the consideration of competition in its decision-making processes.

Australians are continuing to look beyond the ‘Big Four’ with new data showing consumers are choosing customer owned banking institutions over the investor owned banks.

The Customer Owned Banking Association looks forward to consulting with our member banking institutions and engaging with APRA on draft revisions to the banking capital framework released today by APRA.

The Customer Owned Banking Association has strongly criticised a Treasury proposal to hike levies on smaller banks while cutting levies for the four major banks.

The Customer Owned Banking Association congratulates the Morrison Government on its victory and the Opposition on its campaign.

Changes to the regulatory framework for home lending are needed to promote competition in banking, according to an independent report commissioned by the Customer Owned Banking Association.

The Customer Owned Banking Association welcomes the coalition’s announcement to make it easier for first home buyers to get into the housing market.

The Customer Owned Banking Association has welcomed Labor’s announcement that it would establish a Competition & Growth Taskforce. The announcement is a positive move toward improving competition in the banking sector and accommodating the customer owned model.

The Customer Owned Banking Association is urging Australia’s political candidates to commit to improving competition in the banking sector ahead of the Federal Election.

Australians will soon enjoy a more competitive banking sector after Parliament passed an important Bill during the busy budget week sitting period.

The Customer Owned Banking Association has called for fairer capital rules to promote competition in the mortgage market.

The customer owned banking sector is growing faster than the overall banking sector as 12 months of Royal Commission hearings take their toll on Australia’s investor owned banks.

The Customer Owned Banking Association has called for action to reduce the unfair funding cost advantage enjoyed by the ‘Big Four’ banks.

The Australian banking sector is a step closer to becoming more competitive following the introduction of the Treasury Laws Amendment (Mutual Reforms) Bill 2019 into Federal Parliament’s Upper House today.

The Final Report of the Financial Services Royal Commission provides a road-map to ensure that customers’ interests are brought to the fore, and that community standards and expectations are met.

As Australians receive their credit card statements from December or look at their ‘buy now pay later’ debts, customer owned banking institutions are reminding Australians to look beyond credit next year.

Ahead of the release of the Financial Services Royal Commission’s final report, the Customer Owned Banking Association is urging Australia’s politicians to remember the critically important role of competition in delivering positive customer outcomes.

Australia’s customer owned banking institutions are being pressured to agree to an unfair pricing policy by Australia Post as it targets smaller institutions to pay excessive charges for access to Bank@Post.

The Customer Owned Banking Association has welcomed the Government’s release today of draft regulations to improve access to capital for customer owned banking institutions.

The Customer Owned Banking Association has appointed former Australian Securities and Investments Commission official Phil Khoury to conduct the review of the Customer Owned Banking Code of Practice (the Code).

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Ashley Penny
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M: +61 431 932 950
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