Regulator news - Consumers' Federation of Australia

10 January , 2019

Advocates call for changes to superannuation sector

People will be hundreds of thousands of dollars worse off in retirement if the Federal Government doesn’t act now to stop the superannuation sector eroding savings. Today the Productivity Commission has released its plan to reverse the outdated structure that has led to poor performing funds, multiple accounts and zombie insurance policies. Fixing these problems…

9 January , 2019

Victorian regulator consults on maximum taxi surcharges

The Essential Services Commission determines the maximum surcharge that can be collected when someone pays for a taxi using any method other than cash. The ESC is now reviewing this surcharge. Non-cash payment transactions include those made by credit card, charge card, and debit card. Cabcharge cards and dockets are also considered non-cash payment methods.…

18 December , 2018

Lenders commit to improve credit card practices following ASIC review

Today ASIC has released Report 604 Credit card lending in Australia – An update (REP 604), which sets out the changes being made by lenders to help consumers with credit card debt. In July 2018, ASIC released Report 580 Credit card lending in Australia (REP 580), which found more than one in six consumers is struggling with credit card debt. The…

18 December , 2018

Telcos directed to comply with complaints-handling rules

Thirty-one telcos face enforcement action for not having appropriately documented complaints-handling processes in place following investigations by the Australian Communications and Media Authority (ACMA). The ACMA investigated 41 telcos to assess their compliance with new requirements, in place since 1 July 2018, to have a documented complaints-handling process available for their customers. Following the investigations: only…

17 December , 2018

Regulator’s decision on network earnings creates breathing space for consumers

The Australian Energy Regulator’s decision on the rate of return monopoly network businesses can earn will help create breathing space for consumers struggling with energy affordability. The CEO of Energy Consumers Australia Rosemary Sinclair said that the decision was important because the rate of return on capital accounts for around half the revenue network business…

12 December , 2018

Parents warned: 18 products fail CHOICE pram test

CHOICE has published the details of 18 products that failed the CHOICE pram test, warning Australian parents to watch out. The CHOICE pram test looked at 46 prams and strollers and failed 18 of them, with particular concerns regarding strangulation hazards with buckles and straps. The CHOICE review of the pram market follows poor scores…

5 December , 2018

New report from leading consumer and tenancy group on renting in Australia

New research from leading consumer and tenancy groups (CHOICE, National Shelter and the National Association of Tenant Organisations (NATO)) show that Australians who rent are living in fear of eviction and rent rises. The report ‘DISRUPTED: The consumer experience of renting in Australia ‘DISRUPTED: The consumer experience of renting in Australia’ surveyed Australians who rent…

5 December , 2018

Scam Technology Project to address proliferation of scams

The ACMA has established a Scam Technology Project to explore practical technical solutions to address the proliferation of scam calls over Australian telecommunications networks. ‘Scam calls are more than a nuisance. They pose a real threat, particularly to those in vulnerable circumstances such as older people,’ said ACMA Chair Nerida O’Loughlin. “This project will investigate…

1 December , 2018

Federal Labor promises crack down on ticket gouging

Labor will give Aussie sports and music fans a fair go, cracking down on ticket gouging which locks fans out of major events. Labor will introduce a national ban on the use of ticket-buying bot software, which flood ticket websites to purchase the most tickets possible, causing ordinary consumers to miss out. It is estimated bots account…

30 November , 2018

Fairer health insurance

Our health system should empower and support us to live happy and healthy lives. But increasingly, thousands of us are feeling frustrated by high-cost, low-value and overly complex health insurance policies. CHOICE research finds the majority of us don’t feel like we get value from our health insurance and are hit with high costs when…

28 November , 2018

ASIC puts spotlight on the rapidly growing buy now pay later industry

ASIC has released its first review of the rapidly growing buy now pay later industry. The review of this diverse and evolving market has found that buy now pay later arrangements are influencing the spending habits of consumers, especially younger consumers. A buy now pay later arrangement allows consumers to purchase and obtain goods and…

22 November , 2018

Where to start with solar

“Given energy prices on the rise while the cost of solar power systems declines, it’s little wonder that almost one in four Australian households are using some form of solar power,” says CHOICE spokesperson Nicky Breen. “Interest in solar is growing with more than 750,000 solar power systems installed across the country in the last…