Banking sector policy

Surviving Economic Abuse has completed a myriad of projects and influenced policies in the banking sector.

We want to ensure that banking practices do not inadvertently facilitate economic abuse, or do further harm to victim-survivors.

Below are some key dates in our engagement with the banking sector.

October 2018: The UK Finance ‘Financial Abuse Code of Practice’ was launched in October. SEA was involved in the creation of the Code.

November 2018: SEA responded to a discussion paper on a ‘duty of care and potential alternative approaches’ published by the Financial Conduct Authority.

December 2018: SEA hosted the  ‘Banking on Change’ in Salesforce Tower. Norm Kalcovski of the National Australia Bank gave the keynote speech.

At the conference, SEA published a briefing paper on banking and economic abuse.

Best banking practice award

The banking sector is constantly evolving and, in 2019, the SEA Best Practice Award for Banks and Building Societies highlighted the accomplishments of banking institutions implementing the UK Finance Code of Practice on Financial Abuse (the Code) launched in October 2018.

The SEA Best Practice Award helps deliver this mission by recognising banks and building societies that are implementing best practice approaches to tackling economic abuse experienced by customers or staff.

Read our blog post announcing the winners of the award here.