NEWSLETTER: Banking Sector – Issue 62

15 July 2020

Publications

Welcome to Issue 62 of our fortnightly Banking Sector Newsletter. In this issue, we refer to an article on ASIC’s unsuccessful appeal against Westpac in the ‘wagyu and shiraz’ home loan case, as well as new laws that have come into effect allowing customers to share their bank data to make it easier to compare and switch banks.

In other news, the Australian Financial Complaints Authority (AFCA) has banned MCR Partners, who act as a paid representative, from lodging complaints on behalf of consumers and small businesses. This is the first time that the AFCA has exercised its discretion to exclude a third party paid representative.

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