Principles of Fair Customer Treatment
Fair practices help customers understand financial products and make informed decisions. The principles below describe the standards of clarity and responsible conduct that should guide customer-facing interactions; applicable formal policies and regulatory requirements govern the relevant activity.
Clear Product Information
Customers should receive meaningful information about product purpose, eligibility, fees, interest, security requirements, repayment and material risks before making a commitment.
Application Handling
Requests should be handled through a documented process with appropriate communication about required information and relevant next steps.
Transparent Terms
Any offer should clearly explain material conditions and charges in the relevant official documentation. Material changes should be communicated as required.
Respectful Communication
Customers should be treated fairly, without harassment, coercion, misleading representations or inappropriate pressure.
Confidentiality
Personal and financial information should be handled only for legitimate purposes and with appropriate safeguards.
Grievance Resolution
Customers should have access to a clear complaints channel, escalation information and reasonable communication about the status of their concerns.
Review and Governance
Any board-approved Fair Practices Code, where required, should be published and reviewed in accordance with the entity’s actual regulatory obligations.