Impairment of Customer Loans

4 May 2016

© Commonwealth of Australia 2016
ISBN 978-1-76010-401-6

View the report as a single document - (PDF 3727KB)

View the report as separate downloadable parts:

Members of the Committee (PDF 28KB)
Executive summary (PDF 47KB)

Conduct of the inquiry

Recommendations (PDF 32KB)
Abbreviations (PDF 13KB)
Chapter 1 - Introduction and background (PDF 221KB)

Background and previous inquiries

Chapter 2 - Practices of banks (PDF 171KB)

Non-monetary defaults
Penalty interest, default interest and fees
Timeframes for customers including notice to roll over loans
Irresponsible lending
Power imbalance between customers and banks
ASIC's examination of misconduct reports
ASIC's examination of four cases
Committee view: practices of banks

Chapter 3 - FOS and internal dispute resolution (PDF 174KB)

Internal dispute resolution
Self-reported breaches related to IDR and other matters
Issues raised by submitters about EDR schemes
Financial Ombudsman Service
Other issues raised by submitters

Chapter 4 - Other EDR schemes and borrower protections (PDF 131KB)

Self-regulation through codes of conduct
Credit and Investments Ombudsman
Customer Owned Banking Code Compliance Committee
National Consumer Credit Protection Act
Australian Small Business and Family Enterprise Ombudsman
Farm debt mediation
Commercial arbitration
Summary of dispute resolution schemes and consumer protections
Committee view

Chapter 5 - The role of property valuers (PDF 179KB)

Issues raised by submitters
Prudential requirements in relation to property valuations
Views of banks and other bodies
Peak bodies for valuers
Access to valuations and instructions
Recommendations of the post-GFC banking inquiry
Committee view on the role of valuers

Chapter 6 - Receivers and investigative accountants (PDF 141KB)

Issues raised by submitters
Complaints received by ASIC regarding receivers
Views of industry bodies and banks
Post-GFC banking inquiry
Receiver appointments
Recent reforms
Investigative accountants subsequently appointed as receivers

Chapter 7 - Bankwest and Landmark (PDF 322KB)


Dissenting report: Labor committee members (PDF 22KB)
Appendix 1 - Submissions Received (PDF 41KB)
Appendix 2 - Public hearings and witnesses (PDF 19KB)

Committee Secretariat contact:

Committee Secretary
Parliamentary Joint Committee on Corporations and Financial Services
PO Box 6100
Parliament House
Canberra ACT 2600

Phone: +61 2 6277 3583
Fax: +61 2 6277 5719