Banking Law examines key aspects of the legal regulation of banking in Australia. Topics covered in this lecture include:
- the current system of banking regulation in Australia
- the regulation of the "bank-customer" relationship
- recent banking law reforms after the Global Financial Crisis
- changes to lending regulation and the National Consumer Credit reforms
- Australia's new personal property securities law and the Personal Properties Securities Act
- negotiable instruments and cheques
- electronic banking.
The learning outcomes for this unit are for students to:
- identify the interaction of different areas in the regulation of modern banking in Australia
- describe how the "business of banking" is shaped by the Global Financial Crisis, innovation and the public ownership of banks
- evaluate and apply key post-Global Financial Crisis banking law reforms in lending and personal property to the lending industry in Australia
- understand how the Banking Act 1958 (Cth) regulates liability of parties to a cheque
- examine the regulation of electronic banking in Australia in light of new electronic methods of payment through contactless cards like PayWave and PayPass and smart phone technology such as Kaching and Facebook payments.
Within semester assessment: 30%