Regulator news and government inquiries

//Regulator news and government inquiries

Victoria considers prohibitions on rent-to-buy homes and residential vendor finance

Consumer Affairs Victoria is asking for feedback to help shape the laws that control how Victorians buy and sell property. A new options paper presents a range of possible reforms to modernise and improve Victoria’s 55-year-old Sale of Land Act 1962 (the Act). “Victoria’s property market is booming, and it’s essential the Sale of Land [...]

Standards Australia releases Issues Paper to support APEC’s Silver Economy

Standards Australia has released an Issues Paper titled The Role of Standards and Innovation for Driving APEC’s Silver Economy, providing insights to assist Asia-Pacific Economic Cooperation (APEC) member economies to prepare for the challenges and opportunities created by ageing societies. In 2016, Standards Australia and the Department of Industry, Innovation and Science, on behalf of [...]

By | March 25th, 2017|Ageing, Regulator news and government inquiries, Standards|0 Comments

Mortgage broker mayhem

CFA members CHOICE, Consumer Action Law Centre and Financial Rights Legal Centre are calling on the federal government to act on conflicted remuneration in the mortgage market following an ASIC report that found widespread conflicts of interest for brokers and bank staff have led to an aggressive sales culture and poor outcomes for borrowers.[1] Quotes [...]

By | March 18th, 2017|ASIC, Credit|0 Comments

Nine Hours of Conditions Apply *

CHOICE says global companies need to stop pushing consumers into signing off on long, unreadable online contracts Consumers' Federation of Australia member CHOICE is calling on the Federal Government to stop companies from forcing consumers to accept tens-of-thousands of words  of complex  requirements, just to use a product, after a review of e-reader terms and [...]

By | March 16th, 2017|CHOICE, Contracts, Digital consumers, World Consumer Rights Day|0 Comments

Multi-billion Dollar Credit Card Rip-Off

CHOICE says consumers have lost $3.49 billion because credit card interest rates haven’t moved in line with the cash rate As the banks front a Parliamentary Inquriy this week to explain their poor practices, new research from CHOICE reveals their failure to pass on the official interest rate cuts to their credit card customers has [...]

By | March 7th, 2017|CHOICE, Credit|0 Comments

ACCC names key enforcement and compliance priorities for 2017

The Chairman of the Australian Competition and Consumer Commission Rod Sims says 2017 will see its enforcement teams hone in on misleading and deceptive practices, anti-competitive conduct and unfair contract terms affecting small businesses. Speaking at a Committee for Economic Development of Australia (CEDA) event in Sydney today, Mr Sims launched the ACCC’s 2017 Compliance [...]

NSW Fair Trading Commissioner honoured

Minister for Innovation and Better Regulation Matt Kean has today paid tribute to NSW Fair Trading Commissioner Rod Stowe for his 40 years of service to the people of NSW, including 28 years in the consumer affairs portfolio. Mr Stowe’s love of public service began appropriately on Valentine’s Day in 1977, when he was appointed [...]

By | March 1st, 2017|Articles, Regulator news and government inquiries|0 Comments

CFA publishes Submission to the Commission’s Consumer Law Enforcement and Administration Draft Report

Consumers’ Federation of Australia has published its submission to the Commission’s Consumer Law Enforcement and Administration Draft Report. The submission calls for additional public funding for consumer advocacy. Furthermore, CFA encourages the Productivity Commission to develop mechanisms which found fund the necessary consumer advocacy and input, aside from a call on the Federal Budget. The [...]

By | February 22nd, 2017|ACCC, Articles, ASIC, Featured, Publications, Regulator news|0 Comments

Australian Energy Regulator seeking membership for Consumer Consultative Group

Australian Energy Regulator (AER) is seeking expressions of interest for membership to their Consumer Consultative Group (CCG). The CCG works to advise and assist the AER on problems that can impact small energy consumers, such as residential and business customers who consume under the relevant usage threshold set by the National Energy Retail Law jurisdiction. The CCG's [...]

By | February 16th, 2017|Environment, Featured, Jobs with CFA Members, Regulator news|0 Comments

Veda to refund consumers after breaching privacy rules

Veda Advantage Information Services and Solutions Ltd (Veda) is being forced to refund thousands of consumers who paid to obtain credit reports under Veda’s expedited delivery deal, according to a decision handed down today by the Australian Privacy Commissioner. The Commissioner found that Veda breached a series of privacy rules when they: charged for “expedited [...]

By | December 27th, 2016|Articles, Credit, Credit History, Digital consumers, Finance, News, Regulator news and government inquiries|Comments Off on Veda to refund consumers after breaching privacy rules

ASIC CAP Applications Open

Consumers' Federation of Australia is seeking a volunteer consumer representative for the Australian Securities & Investments Commission (ASIC) Consumer Advisory Panel. CAP was established in 1999. CAP advises ASIC on current issues faced by retail investors and consumers in the financial services and credit industries. CAP also informs ASIC's surveillance, enforcement, policy and financial education [...]

By | December 23rd, 2016|ASIC, Consumer Representative Postitions, News|Comments Off on ASIC CAP Applications Open

CFA asked to prepare submission for Senate on electrical infrastructure resilience

In October this year, the Australian Senate created the Select Committee into the Resilience of Electricity Infrastructure in a Warming World. The purpose of the committee is to examine the current role of various storage technologies and localised distributed generation to provide Australia’s electricity networks, and assessing their resilience in withstanding the growing intensity and frequency [...]

By | December 21st, 2016|Govt Inquiries, Independent inquiries, News|Comments Off on CFA asked to prepare submission for Senate on electrical infrastructure resilience