13 May, 2026: Interim Report released
The Interim Report of the independent review of the Code is open for consultation. It includes the independent reviewer’s preliminary findings and 56 draft recommendations, including strengthening protections for financial abuse, and supporting customers experiencing vulnerability and the effectiveness of hardship assistance.
Following discussions between the independent reviewer and COBA, a general extension for all stakeholders to provide feedback to the Interim Report has been granted. The new due date for submissions is now 19 June (previously 8 June) and submissions should be sent to code@coba.asn.au.
The insights gathered during this phase will inform the final report, which is now scheduled for delivery to COBA on Friday, 31 July 2026.
The Interim Report can be found here.
2 April, 2026: Public consultation closes
A public consultation was held from 5 February to 2 April 2026, and the reviewer is now considering the feedback.
Submissions to the consultation can be found here.
5 February, 2026: Consultation paper released
To guide stakeholder input into the independent review of the Code, the official Consultation Paper is now available.
Customers, advocates, and industry stakeholders are invited to provide feedback to shape the future of the sector’s standards.
The consultation paper poses 18 key questions designed to evaluate whether the Code’s current promises translate into meaningful day-to-day banking behaviours and outcomes. To answer these questions, the independent reviewer is calling for formal submissions to address how the Code operates in a rapidly shifting financial landscape, due by 2 April 2026.
You can access the Consultation Paper here.
18 December, 2025: Independent reviewer appointed
A comprehensive, independent review of the Code has commenced, to ensure its standards remain robust and contemporary for the 5.4 million Australians the customer-owned banking sector serves.
Eva Scheerlinck, Principal of Scheerlinck Consulting has been appointed the independent reviewer. She has a strong background in industry code governance and consumer protection.
“Throughout my career, I have championed consumer protection, fair treatment, and financial inclusion – values that align directly with customer-owned banking’s core purpose,” Ms Scheerlinck said.
“I look forward to working with a broad range of stakeholders to ensure the sector delivers on its promises to customers,” she added.