(27 August 2015 – Australia) The Australian Bankers’ Association (ABA) congratulated Sally Davis on her appointment as chief executive of the Code Compliance Monitoring Committee (CCMC).
ABA chief executive Steven Münchenberg said: “Ms Davis will bring to the role extensive knowledge of banking and financial services gained from almost 15 years working at the Financial Ombudsman Service.
“We congratulate Ms Davis and wish her well in her role to continue the important work of the CCMC in monitoring compliance with the Code of Banking Practice, to which most of our members subscribe,” he said.
The Code of Banking Practice is the banking industry's customer charter on best practice banking standards, disclosure and principles of conduct.
It is contractually binding on subscribing banks and sets out the minimum standards banks have agreed to follow when dealing with personal and small business customers.
Under its mandate, the CCMC monitors banks’ compliance with the Code of Banking Practice and investigates allegations of a bank’s breach of its obligations.