Please see attached media release.
Contact details:
Rebecca Nicholson - 0409 216053
Please see attached media release.
Rebecca Nicholson - 0409 216053
Customer owned banks reduce breaches but must remain focused on lending obligations The latest report from the Customer Owned Banking Code Compliance Committee (COBCCC) highlights a 26% reduction in reported breaches of the Customer Owned Banking Code of Practice (the Code), signalling progress in compliance efforts. The report, based on data from customer owned banks (COBs) for the 2023-24 reporting period, attributes this decline to stronger compliance frameworks, improved systems, targeted training, and cultural shifts within COBs. However, key challenges remain, particularly regarding diligent and prudent lending. Chair of the COBCCC, Ms Danielle Press, welcomed the improvements while reinforcing the…
11 March 2025 The Australian Financial Complaints Authority (AFCA) welcomes a federal government decision that will enable it to consider the actions of “receiving…
Fast, Flexible Construction Finance for Developers and Builders Renown Lending, a leading private lender in Australia, has secured $200 million in funding to help home builders and developers access fast, flexible construction finance. Recognising the urgent need for alternative funding solutions, Renown Lending is committed to ensuring that projects can proceed without the bottlenecks associated with traditional bank lending. The recent volatility in the construction sector, rising material costs, and tightening credit conditions have made it increasingly difficult for developers and builders to secure the capital they need. Many banks are hesitant to lend due to market uncertainty, leaving crucial…
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