Getting problems with your bank, insurance or finance company solved fairly and quickly is too hard and Australia needs a one-stop-shop ombudsman for financial service problems, say leading consumer advocates. In a submission endorsed by eight consumer organisations provided to the Ramsay Review into External Dispute Resolution in the banking and finance sector, advocates have…
Read More Australians need a one-stop-shop ombudsman to deal with banking & finance complaints
Financial counsellors welcome today’s commitment by the banking industry to better banking, including making financial hardship support programs more accessible and setting up a debt repayment service. But the big question remains: why is there still no funding for financial counselling? Most of the clients seen by financial counsellors have debts with banks, yet the…
Read More Financial Counsellors Welcome “Better Banking” … but Where’s the Funding for Financial Counselling?
Consumer advocacy group CHOICE has welcomed the establishment of a Senate Inquiry that will examine cases of wrongdoing in the banking and financial services sector. “Sunlight is the best disinfectant. This inquiry gives us a chance to shine a light on the anti-consumer practices that are riddled throughout the banking system,” says CHOICE Head of…
Read More CHOICE welcomes inquiry into banking sector
Banks have an opportunity to put consumers and competition first.
Read More CHOICE says Australian’s deserve full interest rate cut
ASIC has welcomed moves by the banking sector and two independent ATM providers to provide free ATM transactions at 76 ATMs in remote Indigenous communities.
Read More ASIC welcomes remote community fee-free ATM transactions