Financial counsellors - who help hundreds of Australians with financial services disputes each year - have provided overwhelming support for the merger of the Financial Ombudsman Service and the Credit & Investments Ombudsman into a one stop financial complaints ombudsman service. Seventy-five percent of financial counsellors that responded to a survey by Financial Counselling Australia [...]
Consumers better off seeking free advice from financial counsellors
"Watered down" announcement allows advisers to retain commissions
Changes proposed by industry and welcomed by government don't go far enough
$21.3 million in ombudsman rulings remains unpaid to consumers
Consumer Action says too many Australians have suffered at the hands of financial advisers: Consumer Action
Bank pays out $30 million in fee refunds
Upper house majority disallows previous regulation stripping consumers of protection
CHOICE calls on Senate to delay vote on FoFA until financial inquiry report
CHOICE CEO claims consumers expect more from a big 4 bank
Compensation is underway for clients who suffered financial loss as a result of bad advice
CALC warns that attractive low fixed rates are unsustainable for longer term
