Business News

The new banking code looks impressive, but what will it achieve?

Written by Gerhard Hambusch, Senior Lecturer, University of Technology Sydney

The Banking Association says "in and of itself" the code it won't restore trust.Shutterstock

On July 1, the banking industry got yet another code of conduct – its fifth since 1993 – and although it is voluntary, all of the retail banks have signed up.

In the promotional video, Australian Banking Association chairman Shayne Elliott...

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