BTF3601 Banking law

Banks play a critical role in our society and underpin our economy. The products and services offered by banks are utilised by most businesses and individuals, so most members of society are interacting and engaging with banks. An understanding of the regulatory and legal framework that governs the operation and conduct of banks is not just beneficial for those working in the banking and finance industry and professional advisers, but also for consumers, including businesses, of the products and services offered by banks. This unit examines key aspects of the regulation of banking in Australia and the rights and obligations that are enforceable by banks and consumers.

Topics covered in this unit include: the system of banking regulation in Australia; banking law reforms after the Global Financial Crisis; legal aspects of the "banker-customer" relationship, confidentiality, privacy of customer data, and anti-money laundering obligations; consumer protection laws, including in the context of lending to consumers; lending, including both secured and unsecured lending, guarantees and the use of different types of property to secure loans; payment methods and electronic banking; emerging regulatory challenges for industry and government, technological innovation and disruption to traditional banking practices, such as FinTech and sandbox approach.