Suncorp welcomes ASIC’s approval of the new Code of Banking Practice and is committed to progressively implementing the measures between now and the adoption of the Code on 1 July 2019.
Suncorp Banking & Wealth CEO David Carter said the company has strongly supported the ABA’s Banking Reform Program, which includes the creation of the new Banking Code of Practice.
“Suncorp has been a signatory of the Code of Banking Practice since 30 June 2004, and we are supportive of the implementation of a new Code, which will lead to better customer protection and experiences,” Mr Carter said.
“The new plain-English code is good news for customers as they will benefit from improved transparency and it will make it easier for them to manage their finances.
“The introduction of Small to Medium Enterprises into the new code will hold the industry to a higher level of customer service and responsible lending obligations.
“We are committed to ensuring we have implemented the required changes by the introduction of the new Code,” Mr Carter said.