Financial Counselling

A gold credit card A gold credit card

Removing credit protections will cause harm to people and the economy  CHOICE, Consumer Action Law Centre, Financial Counselling Australia and Financial Rights Legal Centre have responded to the Government’s announcement that it will remove credit protections for borrowers saying right now what people need is more income, not more debt. Government’s proposed reforms will remove bank responsibility…

Read More Consumer groups slam move to remove responsible lending laws

Post thumbnail

Beyond Blue and Financial Counselling Australia (FCA) are encouraging people to access free support services to cope with the economic impacts of the coronavirus pandemic. The organisations have launched the Money on Your Mind campaign to support people experiencing financial stress and mental health issues. Australian Bureau of Statistics data shows 41 per cent of…

Read More Money on your mind – campaign to improve mental and financial health

Hands opening an empty brown leather wallet Hands opening an empty brown leather wallet

CFA member Nicola Howell (PhD researcher, Melbourne Law School and Senior Lecturer at QUT) is researching the impact of financial difficulty assistance/hardship variations, bankruptcy and debt agreements on consumer debtors . In the next phase of the study, Nicola is keen to hear from financial counsellors, consumer advocates, insolvency practitioners and others working in the…

Read More Share your insights of bankruptcy, debt agreements and financial difficulty assistance

Post thumbnail

Financial Counselling Australia welcomes the implementation of a ban on unsolicited telephone sales of life insurance and consumer credit insurance sold without personal advice.  ASIC announced that the ban will come into effect on January 13, 2020. In the experience of financial counsellors, who work with people in financial hardship, unsolicited telephone selling targets vulnerable consumers. The…

Read More Financial Counselling Australia welcomes ban on unsolicited telephone selling

A Roulette table A Roulette table

Financial Counselling Australia welcomes the bill to establish the National Online Gambling Self-Exclusion Register. The Bill was introduced this week in Federal Parliament by the Minister for Communications, the Hon. Paul Fletcher.  The register means that people experiencing harm can press one button and self-exclude from all the online wagering companies. With that single trigger, the wagering operators…

Read More FCA Welcomes Gambling Self-Exclusion Register

A calculator and a piece of paper with financial notes on it A calculator and a piece of paper with financial notes on it

First Nations Foundation (FNF) has launched the world’s first digital financial literacy education program to help First Nations people develop their financial knowledge. While the content of My Money Dream has been developed by Indigenous people for Indigenous people, FNF has added the might and scale of Australia’s largest industries by offering this to the…

Read More First Nations Foundation launches word-first financial literacy program

A yellow road sign with black writing that reads "bankruptcy" A yellow road sign with black writing that reads "bankruptcy"

CFA member Nicola Howell (PhD researcher, Melbourne Law School and Senior Lecturer at QUT) is researching the impact of financial difficulty assistance, bankruptcy and debt agreements on consumer debtors. A better understanding of how people experience the different options, and whether they improve the lives of debtors in the short and long term, can help…

Read More Researching the impact of financial difficulty assistance: Request for participation

Post thumbnail

Financial Rights Legal Centre (Financial Rights), Consumer Action Law Centre (Consumer Action) and Financial Counselling Australia (FCA) have welcomed the Australian Securities and Investment Commission’s (ASIC’s) announcement that it will consult on using new Product Intervention Powers to intervene in the short term credit industry. The new product intervention power allows ASIC to intervene where…

Read More Consumer advocates welcome ASIC intervention in Short Term Credit Market

Post thumbnail

The following is a transcript of the keynote address presented by Fiona Guthrie AM, Chief Executive Officer of Financial Counselling Australia, at the ACCC 2019 National Consumer Congress. Reimagining the Corporation: Why we need to change the purpose of our biggest companies INTRODUCTION I am going to begin and end this speech in the same place. And that is…

Read More Reimagining the Corporation: Fiona Guthrie’s speech to the National Consumer Congress

Post thumbnail

The Coalition Government has agreed to take action on all 76 recommendations contained in the Royal Commission’s Final Report and, in a number of important areas, is going further, including conducting an immediate review of financial counselling services. In his Final Report, Commissioner Hayne observed, “The desirability of predictable and stable funding for the legal…

Read More Going further with a financial counselling review

Consumer Advocates in Canberra for the release of the Royal Commission's final report

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has now concluded. The Final Report and the Government’s response was released to the general public on Monday afternoon, providing a road map for law reform that should deliver improved standards in the finance sector.  Many of the report’s 76 recommendations have been welcomed by consumer organisations including CHOICE, Consumer…

Read More Consumer groups respond to Royal Commission Final Report