News centre

Speech

Framing the future of financial services: strengthening competition and consumer engagement

In the keynote address for the Gilbert + Tobin Financial Services Forum on Thursday 31 October 2024, ACCC Chair, Ms Gina Cass-Gottlieb spoke about the significant changes happening in the financial services sector and the implications of these for the ACCC’s work.

Media release

Experian’s proposed acquisition of illion not opposed

The ACCC will not oppose the acquisition of Credit Data Solutions Pty Ltd (illion) by Experian Australia Credit Services Pty Ltd (Experian).

Media release

Industry to continue collaborating on cash transit arrangements

The ACCC has granted authorisation with conditions to the Australian Banking Association (ABA), the Customer Owned Banking Association, banks, retailers and other industry participants to allow them to continue developing responses to support the distribution of cash across Australia.

Update

ACCC grants authorisation for banks to establish a program to jointly procure assurance reviews of mortgage aggregators

On 11 April 2024, the ACCC granted authorisation with conditions for the applicants and other industry participants to develop and implement a program to collectively acquire assurance services in relation to mortgage aggregators.

Update

ACCC grants interim authorisation to the Australian Banking Association

The ACCC has granted interim authorisation with conditions to the Australian Banking Association (ABA), its member banks, and other relevant industry participants to facilitate implementation of business continuity measures in the event of suspension or disruption to cash services in Australia.

Speech

Keynote address at AFR Banking Summit 2024

Ms Gina Cass-Gottlieb, Chair, spoke at the AFR Banking Summit, Tuesday 26 March 2024 on the heightened need to protect, assist and inform consumers in economically turbulent times

Update

ACCC proposes to authorise Australian banks and other parties to discuss and develop industry solutions to support the cash-in-transit industry

The ACCC proposes to grant authorisation with conditions until 31 October 2024 to the Australian Banking Association, its member banks, and other industry participants.

Media release

ACCC update on Tribunal’s decision to authorise ANZ's acquisition of Suncorp

On 20 February 2024, the Australian Competition Tribunal set aside the ACCC’s earlier decision on 4 August 2023 not to grant authorisation for ANZ to acquire Suncorp’s banking business.

Media release

Westpac's proposed acquisition of HealthPoint not opposed

The ACCC will not oppose Westpac Banking Corporation’s proposed acquisition of HealthPoint.

Media release

Australian Competition Tribunal authorises ANZ’s proposed acquisition of Suncorp Bank

The ACCC notes the Australian Competition Tribunal’s decision today to grant authorisation for ANZ’s proposed acquisition of Suncorp’s banking business.

Update

ACCC varies Australian Banking Association authorisation

On 1 February 2024 the ACCC issued a determination granting a minor variation to the Australian Banking Association’s authorisation to allow changes to certain minimum requirements of basic bank accounts offered to low-income customers under the Banking Code.

Media release

Bank customers missing out on earning more interest from savings

Consumers are missing out on earning higher interest on their savings due to ongoing barriers to searching for, and switching between, retail deposit products, the ACCC’s Retail deposits inquiry final report has found.

Media release

ACCC denies authorisation for ANZ to acquire Suncorp Bank

The ACCC has decided not to grant merger authorisation for ANZ Banking Group (ASX:ANZ) to acquire Suncorp Group’s (ASX:SUN) banking arm.

Media release

Australian banks allowed to collaborate on development of industry standards to combat scams

The Australian Banking Association Ltd (ABA) and its member banks will be able to participate in discussions to develop an industry standard to prevent, detect, and disrupt scams affecting individual and small business customers, following a conditional ACCC interim authorisation.

Media release

ACCC authorises Armaguard and Prosegur's merger, subject to undertaking

The ACCC has granted authorisation to the proposed merger of Linfox Armaguard Pty Ltd (Armaguard) and Prosegur Australia Holdings Limited and has accepted a court-enforceable undertaking, which is a condition of the authorisation.

Media release

ACCC seeks views on competition and consumer issues affecting Australian savers

The ACCC is calling on banks, bank customers and other interested stakeholders to share their views on competition and consumer issues affecting retail deposit products.

Media release

ACCC seeks further views on ANZ's proposed acquisition of Suncorp Bank

The ACCC has released a statement of preliminary views on ANZ Banking Group’s (ASX:ANZ) proposed acquisition of Suncorp Group’s (ASX:SUN) banking arm.

Media release

Bank impersonation scams robbing Australians of their life savings

Consumers are being warned to be wary of phone calls and texts that appear to be from their bank, following alarming reports of Australians losing their life savings to a highly sophisticated impersonation scam.

Speech

Keynote address at AFR Banking Summit 2023

Gina Cass-Gottlieb, ACCC Chair, addressed the AFR Banking Summit 2023 on the ACCC's priorities in the financial services sector on Tuesday 28 March 2023.

Media release

ACCC launches inquiry into deposit interest rates

The ACCC will investigate how banks set interest rates for savers, including differences in interest rate increases between bank deposits and home loans after the Federal Government directed the ACCC to commence an inquiry into Australia’s retail deposit market.

Media release

ING Bank pays penalties for alleged breaches of Consumer Data Right Rules

ING Bank (Australia) Limited has paid penalties totalling $53,280 for allegedly failing to comply with Consumer Data Right (CDR) Rules and making a false or misleading representation to consumers, after the ACCC issued it with four infringement notices.

Media release

iSignthis refused Consumer Data Right accreditation

The ACCC has refused Consumer Data Right (CDR) accreditation to iSignthis Australia Pty Ltd (iSignthis), as the ACCC was not satisfied iSignthis would be able to comply with the obligations of an accredited data recipient under the CDR Rules.

Media release

ACCC begins ANZ, Suncorp merger authorisation review

The ACCC today commenced its formal consideration of ANZ Banking Group’s proposed acquisition of the banking arm of Suncorp. The ACCC received the merger authorisation application on Friday 2 December.

Speech

Address at the 32nd Annual Credit Law Conference

Mr Peter Crone, ACCC Commissioner, spoke at the 32nd Annual Credit Law Conference on 13 October about the Consumer Data Right.

Update

Optus data breach: Information for APRA-regulated entities

The ACCC is working with the Federal Government, regulators and other relevant organisations to facilitate closer coordination of data sharing between Optus and Australian Prudential Regulation Authority-regulated entities.

Framing the future of financial services: strengthening competition and consumer engagement

Experian’s proposed acquisition of illion not opposed

Industry to continue collaborating on cash transit arrangements

ACCC grants authorisation for banks to establish a program to jointly procure assurance reviews of mortgage aggregators

ACCC grants interim authorisation to the Australian Banking Association

Keynote address at AFR Banking Summit 2024

ACCC proposes to authorise Australian banks and other parties to discuss and develop industry solutions to support the cash-in-transit industry

ACCC update on Tribunal’s decision to authorise ANZ's acquisition of Suncorp

Westpac's proposed acquisition of HealthPoint not opposed

Australian Competition Tribunal authorises ANZ’s proposed acquisition of Suncorp Bank

ACCC varies Australian Banking Association authorisation

Bank customers missing out on earning more interest from savings

ACCC denies authorisation for ANZ to acquire Suncorp Bank

Australian banks allowed to collaborate on development of industry standards to combat scams

ACCC authorises Armaguard and Prosegur's merger, subject to undertaking

ACCC seeks views on competition and consumer issues affecting Australian savers

ACCC seeks further views on ANZ's proposed acquisition of Suncorp Bank

Bank impersonation scams robbing Australians of their life savings

Keynote address at AFR Banking Summit 2023

ACCC launches inquiry into deposit interest rates

ING Bank pays penalties for alleged breaches of Consumer Data Right Rules

iSignthis refused Consumer Data Right accreditation

ACCC begins ANZ, Suncorp merger authorisation review

Address at the 32nd Annual Credit Law Conference

Optus data breach: Information for APRA-regulated entities

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