Banks in Australia will need to give their customers plain English contracts. That’s part of the new code of practice from the Australian Banking Association. The tougher rules in the rewritten code will apply to all banks with retail operations, not just members of the Association.
Here in New Zealand, clear financial information is already required by the Financial Markets Authority. Many of our clients in the finance industry haven’t stopped there. They’re applying plain English techniques to all their writing — whether intended for staff or those outside the organisation. They’ve discovered the rewards of clarity and the costs of being obscure.