Loan Finance Online :: News
SHARE

Share this news item!

AFIA Unveils Landmark Finance Industry Code of Practice

Setting New Benchmarks for Integrity and Transparency in Finance

AFIA Unveils Landmark Finance Industry Code of Practice?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

The Australian Finance Industry Association (AFIA) has introduced the Finance Industry Code of Practice, marking a significant milestone for Australia's non-bank lending and specialist banking sectors.
This inaugural code establishes new standards for integrity, transparency, and fairness within the industry.

Developed in collaboration with industry stakeholders, the code aims to enhance consumer trust by promoting responsible lending practices and ensuring clear communication between financial institutions and their clients. Key provisions include commitments to ethical conduct, transparent fee structures, and the protection of consumer rights.

AFIA's CEO emphasized that the code reflects the industry's dedication to upholding the highest standards and fostering a culture of accountability. By adhering to these guidelines, financial institutions can better serve their clients and contribute to the overall stability of the financial system.

For consumers, the implementation of this code means greater confidence in their financial dealings, knowing that institutions are committed to fair and transparent practices. It also provides a framework for addressing grievances and ensuring that consumer interests are prioritized.

In conclusion, the launch of AFIA's Finance Industry Code of Practice represents a proactive step towards strengthening the integrity of Australia's financial sector and enhancing consumer protection.

Published:Monday, 17th Nov 2025
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

Share this news item:

Rate this article

0 Comments

No comments yet. Be the first to share your thoughts.

Finance News

APRA Holds Firm on 3% Mortgage Serviceability Buffer
APRA Holds Firm on 3% Mortgage Serviceability Buffer
11 Jun 2026: Paige Estritori
The Australian Prudential Regulation Authority (APRA) has announced its decision to maintain the current mortgage serviceability buffer at 3 percentage points. This measure requires lenders to assess borrowers' ability to meet repayments at an interest rate 3% higher than the loan's actual rate, serving as a safeguard against potential financial stress. - read more
RBA Maintains Cash Rate at 4.35% Amid Economic Uncertainty
RBA Maintains Cash Rate at 4.35% Amid Economic Uncertainty
11 Jun 2026: Paige Estritori
The Reserve Bank of Australia (RBA) has announced its decision to keep the official cash rate steady at 4.35% during its June 2026 meeting. This decision reflects the central bank's cautious approach in the face of ongoing economic uncertainties and inflationary pressures. - read more
APRA Implements New Three-Tiered Banking Framework
APRA Implements New Three-Tiered Banking Framework
11 Jun 2026: Paige Estritori
The Australian Prudential Regulation Authority (APRA) has announced the introduction of a new three-tiered banking framework, effective from 1 July 2026. This initiative aims to enhance regulatory proportionality, ensuring that oversight is commensurate with the size and complexity of financial institutions. - read more
Cigno Australia and BSF Solutions Penalised for Unlawful Payday Lending Practices
Cigno Australia and BSF Solutions Penalised for Unlawful Payday Lending Practices
04 Jun 2026: Paige Estritori
In a significant ruling, the Federal Court has imposed a $7 million fine on Cigno Australia and BSF Solutions for operating an illegal payday lending scheme that contravened Australian credit laws. This decision underscores the Australian Securities and Investments Commission's (ASIC) commitment to safeguarding consumers from predatory financial practices. - read more


Finance Articles

How to Save for Your First Home: Tips for Young Australians
How to Save for Your First Home: Tips for Young Australians
If you're looking to buy your first home, starting to save early is one of the smartest financial moves you can make. By beginning to save when you're young, you give yourself a head start in accumulating the necessary funds to make a deposit on a house. This proactive approach has numerous benefits that extend beyond just having more money in the bank. - read more
Your Guide to Understanding Different Small Business Loan Options
Your Guide to Understanding Different Small Business Loan Options
In the bustling world of entrepreneurship, small business loans often act as the backbone that supports growth and sustainability. Understanding the array of loan options available is imperative for business owners in Australia, ensuring that they can make informed decisions that align with their objectives. - read more
Leveraging Loan Products for Accelerated Financial Freedom
Leveraging Loan Products for Accelerated Financial Freedom
Financial independence means having enough income to pay for one's living expenses without relying on a traditional job. In Australia, this concept is not just a dream but a necessity for many who aspire to a life free from financial stress. It offers the freedom to make choices about how you want to live your life, from retiring early to pursuing passions and interests without monetary constraints. - read more
The Essential Glossary: Simplified Financial Terms You Need to Know
The Essential Glossary: Simplified Financial Terms You Need to Know
In today's fast-paced world, financial literacy is more important than ever. For Australians, being financially literate means confidently navigating through personal finances, investments, and economic changes. It empowers individuals to make informed decisions about their money, which can lead to greater financial security and peace of mind. - read more


Free Assessment

Loan Amount:
Postcode:

All quotes are provided obligation-free by a participating broker from our national referral partner network. We respect your Privacy.


Knowledgebase
Return on Investment (ROI):
A measure used to evaluate the efficiency of an investment or compare the efficiency of several different investments.