The contractual effect of the code of banking practice

Controversy has raged in the banking industry as to whether the Code of Banking Practice, a voluntary code of conduct to which most banks adhere,…

Lenders beware: failing to assess a borrower’s repayment ability may let a guarantor off the hook

Where a lender agrees to incorporate the Banking Code in lending instruments, not only borrowers but guarantors may escape liability if that duty is breached….