Independent Review of the Customer Owned Banking Code of Practice – Joint Submission

Submission to: Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry

Submission to: AFIA
Unlike consumer lending, which is regulated by the National Credit Law, there are relatively few protections for small businesses when they borrow money. The submission therefore supports AFIA’s development of the Online Small Business Lenders Code of Practice. However it argues the Code and its governance require significant strengthening.