The Finance Brokers Association of Australia (FBAA) is a national association representing finance and mortgage loan writers throughout Australia. It was formed in the belief that the establishment of measurable standards of proper professional practice in sourcing domestic and commercial funding was in the best interests of its customers/consumers and vital to the integrity and future wellbeing of the finance/mortgage broking industry. In the interests of members and their clients, the FBAA performs the following functions:
▪ Monitors legislation: and makes representations to Ministers and Members of Parliament both state and federal as appropriate.
▪ Code of Practice: adopted by industry professionals who offer domestic finance, commercial finance, lease and motor vehicle finance, business and debtor finance, as finance/mortgage brokers.
▪ Associated with training organisations: to provide programs to the industry and keep members up-to-date with changes to government legislation and regulations.
▪ Complaints and disciplinary procedures: designed to eliminate unacceptable working practices amongst its members, by providing an Internal Disputes Resolution Process (designed to meet Australian Standards). It also is a safeguard to both its Members and their clients/consumers against restrictive practices within the industry.