BTF2601 - Banking law - 2019

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 and privacy of customer data; 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; negotiable instruments; electronic banking and payments; emerging regulatory challenges for industry and government, technological innovation and disruption to traditional banking practices, such as FinTech.

The learning goals associated with this unit are to:

1. describe the legal framework and system of banking regulation in Australia
2. describe how the business of banking is shaped by the Global Financial Crisis, innovation, and the public ownership of banks
3. evaluate the role and necessity of regulation and reflect critically on the relationship between law, regulation, ethics, and corporate culture in ensuring a fair, efficient, and resilient financial sector
4. identify legal problems and risks that arise in the context of the "banker-customer" relationship, the relationship between lender and borrower, and in the context of electronic payments, and analyse and apply the law to solve the problems
5. distinguish between different types of property (real and personal) and explain how property can be used to secure a loan transaction, the methods of registration and enforceability under applicable legislation and determine the priority of competing interests
6. understand the concept of responsible lending
7. demonstrate an understanding of technological innovations and emerging challenges facing policy makers, regulators and the banking industry.

Within semester assessment: 40% + Examination: 60%

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

See also Unit timetable information