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| What Can the CCMC Do? |
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| The CCMC investigates complaints that banks are not meeting their obligations under the Code. |
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| Usually, an investigation starts when a consumer writes to the CCMC with a complaint about a bank. |
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| The matter is investigated and may be referred to the bank for the bank’s response to the alleged breach. |
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| The final decision on a breach of the Code is made by the CCMC in a written Determination to the complainant and the bank. |
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| If the CCMC establishes that a bank has breached its obligations under the Code, it may ask the bank to take remedial action, or give undertakings as to its future conduct. If the bank has already recognised the breach and addressed it, the CCMC may not require the bank to take any further action. For further information refer CCMC's Procedures. |
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| The Code gives the CCMC the power to name a bank in connection with a breach of the Code if the bank has been guilty of a serious or systemic breach, has not promptly remedied a breach as requested by the CCMC, has breached an undertaking given to the CCMC or has not taken steps to prevent a breach recurring after being warned that it may be named by the CCMC. |
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| In those circumstances, the bank and the grounds for naming the bank would be published in the CCMC’s annual report. |
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| The CCMC can also conduct its own Inquiries and monitor any other aspects of the Code that are referred to the CCMC by the Australian Bankers' Association. |
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| The CCMC cannot look at claims for financial loss. Such claims should be referred to an alternative forum, such as the Banking and Finance Division of the Financial Ombudsman Service, which can be contacted on 1300 780 808 or www.fso.org.au |
