The Banking Code Compliance Committee has appointed a new chair as it takes a stronger stance on the Banking Code of Practice.
Former Australian Government Solicitor Ian Govey AM has been appointed to the independent body after a recruitment process run by the Australian Banking Association and the Australian Financial Complaints Authority.
“As part of their commitment to a new Banking Code of Practice, which has real teeth, banks have formed a tougher and stronger independent body to monitor and enforce its implementation,” said Anna Bligh, the CEO of the ABA.
“The appointment of Ian Govey AM to the role of chair of the Banking Code Compliance Committee means thoroughly independent oversight ensuring banks implement the new code as promised.”
Mr Govey replaces Professor Christopher Doogan AM as chair of the compliance committee.
“I’m pleased to accept this appointment and look forward to playing a role in ensuring the Banking Code is strong and effective in protecting the interests of customers,” Mr Govey said.
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