The Banking Code Review
The Australian Banking Association (ABA) arranges for the Banking Code of Practice to be independently reviewed every five years, to ensure the Code remains fit for purpose, effective and operating as intended. The independent review also focuses on emerging issues that have arisen since the last Code review.
The review is undertaken in consultation with key stakeholders including consumer groups, small business organisations, regulators and the banking industry.
The Banking Code Compliance Committee (BCCC) is also subject to a separate independent review.
What is the Banking Code of Practice?
The Banking Code is a set of enforceable standards that customers, small businesses, and their guarantors can expect from subscribing banks.
The Code provides safeguards and protections not set out in the law. It complements the law and, in some areas, sets higher standards than the law.
It is a condition of ABA membership that member banks with a retail presence in Australia sign up to the Code.
The review includes a review of the ABA Branch Closure Protocol (BCP) which was last updated in July 2023
About the Review – Appointed independent reviewer
Peter Kell
The 2026 Banking Code review is being led by Peter Kell.
Peter Kell brings more than two decades of leadership in financial regulation and consumer policy. He has served as Deputy Chair of both the Australian Securities and Investments Commission (ASIC) and the Australian Competition and Consumer Commission (ACCC), where he led major consumer protection reforms and was responsible for financial services conduct regulation, enforcement, and policy development.
Peter was also CEO of CHOICE, where he championed the rights of consumers, overseeing industry-wide reviews and strengthening accountability across the financial sector. He is currently the Chair of the Financial Counselling Industry Fund.
Most recently, he led the independent review of the Life Insurance Code of Practice, which involved extensive consultation with consumer representatives, regulators, government agencies, industry participants and AFCA. He has also undertaken a review of the Australian Finance Industry Association (AFIA) Buy Now Pay Later (BNPL) Code of Practice.
Consultation approach
The ABA expects the Code reviewer will ensure transparent and reasonable (e.g. sufficient notice) public consultation with stakeholders including:
- The banking industry including the ABA and its members;
- Consumer organisations including members of the Consumers Federation of Australia;
- The ABA Consumer Outcomes Group;
- The Banking Code Compliance Committee (BCCC);
- Small business organisations including the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), Council of Small Business Organisations Australia (COSBOA), and National Farmers’ Federation and their members;
- Organisations representing Australia’s First Nations People;
- Organisations representing people with disability;
- Relevant regulatory / statutory bodies including the Australian Securities and Investments Commission (ASIC) and the Australian Financial Complaints Authority (AFCA); and
- Other interested stakeholders.
The review consultation will have regard to the Terms of Reference here.
A Consultation Paper will also be developed by the reviewer and interested parties are invited to comment on these issues or any other matter they consider relevant to the review.
Timeline
Review commences.
Detailed consultation paper issued by the reviewer.
Written submissions due.
Reviewer undertakes further engagement and consultation with stakeholders.
Interim report issued by reviewer.
Submissions to interim report due.
Final report provided to Australian Banking Association.
ABA response to final report recommendations.
Make a Submission
We welcome submissions from individuals and organisations as part of the 2026 Banking Code Review. Please complete the form below to have your say.
Submissions
Submissions can be:
Emailed to: submissions@2026bankingcodereview.com.au
Uploaded: Upload your submission as a PDF or word doc above
Contact us
If you have any questions about the 2026 Banking Code of Practice review, please email the secretariat support at secretariat@2026bankingcodereview.com.au
Banking Code Compliance Committee (BCCC) review
The BCCC is an independent body with powers to monitor banks’ compliance with the Banking Code in accordance with its Charter. Details of the BCCC’s own independent review and how to make submissions to this review can be found here (link to be provided by the BCCC).
Additional support
Contacting your bank
If you have a question or concern about your banking product or service, we encourage you to contact your bank’s customer relations or complaints team. They can assist you with resolving issues related to your product or service.
Reporting concerns about the Banking Code
If you would like to raise a concern about how a bank is meeting their obligations under the Banking Code, you can contact the Banking Code Compliance Committee (BCCC).
Making a complaint to the Australian Financial Complaints Authority
The Australian Financial Complaints Authority (AFCA) is an independent complaints scheme that is free for consumers. It provides an accessible way of resolving disputes, without having to go to court. The decision of AFCA is binding on the bank.