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ARTICLE · 13 APRIL 2025

2025 Banking Code of Practice - key changes affecting lenders and borrowers

Bartier Perry Solicitors
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The Banking Code of Practice 2025 introduces significant changes to the previous banking code.

AustraliaFinance and Banking
Gavin Stuart
Gavin Stuart
Emma Boyce
Emma Boyce
Karunya Vetcha
Karunya Vetcha
Chantal Ryan
Chantal Ryan
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The financial landscape is rapidly evolving, shaped by technology, consumer expectations, and global changes. These changes have significantly influenced banking practices and regulations, including the Banking Code of Practice 2025.

The Banking Code of Practice 2025, effective from 28 February 2025, introduces significant changes to the previous banking code with a view to strengthening protections for consumers, small businesses, and guarantors. Approved by the Australian Securities and Investments Commission (ASIC), the revised Code applies to individuals, small business customers and individuals who are guarantors that have been provided a banking service on or after 28 February 2025. The revised Code aims to improve accessibility, foster inclusivity, and promote ethical banking practices. This article addresses the key changes to the Code and the implications of those changes on both lenders and borrowers.

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