ACCC proposes to authorise Australian banks and other parties to discuss and develop industry solutions to support the cash-in-transit industry

Summary:

The Australian Competition and Consumer Commission (ACCC) proposes to grant authorisation with conditions until October 31, 2024, to the Australian Banking Association (ABA) and its member banks to discuss, exchange information, and reach agreements on developing industry responses to challenges to the sustainability of cash-in-transit services and access to cash. The ABA will provide regular reports to the ACCC and undertake consultations with industry stakeholders. The ACCC is seeking submissions by April 10, 2024, before making its final decision.