July 11 (Reuters) - Australian Competition & Consumer Commission:
- ANNOUNCES INTERIM APPROVAL TO BANKING CODE CHANGES FOLLOWING ROYAL COMMISSION
- AUTHORISATION ALLOWS MEMBER BANKS TO AGREE NOT TO CHARGE DEFAULT INTEREST ON LOANS SECURED BY AGRICULTURAL LAND IN DROUGHT DECLARED AREAS
- INTERIM AUTHORISATION ALLOWS MEMBER BANKS AGREE NOT TO CHARGE DISHONOUR FEES/OVERDRAWN FEES/ALLOW INFORMAL OVERDRAFTS ON BASIC BANK ACCOUNTS
- AUSTRALIAN BANKING ASSOCIATION INTENDS TO AMEND BANKING CODE TO DEFINE MINIMUM FEATURES OF A BASIC BANK ACCOUNT
- EXPECTS TO ISSUE A DRAFT DETERMINATION ON ABA'S AUTHORISATION APPLICATION IN SEPTEMBER 2019
Source text: (http//bit.ly/2XFVFZt)
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News: NAB ACCC Announces Interim Approval To Banking Code Changes After Royal Commission
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