From www.bartier.com.au: The 2025 Banking Code of Practice introduces significant changes aimed at enhancing consumer protections, including an increased threshold for small business eligibility from $3 million to $5 million in total debt.

It recognises various forms of customer vulnerability and mandates banks to improve inclusivity and accessibility for diverse client groups.

The Code requires banks to provide distinct protections for guarantors and implement stricter standards in debt management while ensuring compliance with these new provisions to avoid severe penalties.