Consumer Action has made a submission in relation to the proposed Abacus Australian Mutuals Draft Code of Practice. As a general comment, we record our support for both the tenor and quality of the Draft Code. In our view, the Draft Code represents a significantly improvement in the level of protection for consumers of credit unions and mutual building societies. Nevertheless, there are a few areas where we consider the Draft Code could go further and we make some more detailed comments on how the Draft Code could be improved below.
To read our submission, click here: Abacus Draft Code of Practice.