Commonwealth Bank engages with Advocates

Advocates recently participated in a consultation about banking and financial matters that impact people living with dementia, their carers, and power of attorneys. This initiative of the Commonwealth Bank is to expand their commitment to addressing the financial abuse of vulnerable customers. 

More than 80 Advocates responded to the online survey and a further 31 Advocates participated in seven focus groups facilitated by Dementia Australia, held in person and online. Advocates provided their perspectives on how the Commonwealth Bank can better support people with money management, financial decision-making, expectations about protective actions by banks, and financial abuse awareness. 

The Dementia Australia Policy Team will report the findings from the consultation to the Commonwealth Bank to inform their development of future work to support people living with dementia, their carers and power of attorneys to interact safely and confidently with the bank. The findings may also be used by the Policy Team to develop recommendations for financial institutions and in other relevant policy documents.