Regulator news

A view of the steering wheel of a car from behind the driver A view of the steering wheel of a car from behind the driver

ACCC Media Release 3/20: Honda and Mitsubishi have commenced voluntary recalls for vehicles manufactured between 1996 and 2000 due to a serious safety concern relating to faulty airbags. These vehicles may have been fitted with potentially deadly Takata NADI 5-AT airbags. There is a risk these airbags may misdeploy in an accident and cause metal…

Read More Honda and Mitsubishi recall 42,000 cars due to serious airbag safety risk

The dashboard of a car, both of the front airbags have deployed The dashboard of a car, both of the front airbags have deployed

The ACCC is warning Australian consumers about a new safety risk in using certain vehicles fitted with a different type of faulty Takata airbag. These airbags, which are fitted with a NADI 5-AT propellant, are not captured under the existing compulsory recall of Takata airbags.  There is a serious safety risk that these NADI airbags…

Read More Consumers warned of new airbag safety risk

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Consumer Action Law Centre (Consumer Action) and Financial Rights Legal Centre (Financial Rights) say ASIC’s overhaul of its responsible lending guidance is a welcome announcement in the wake of the devastating consumer harm exposed during the Banking Royal Commission.  Too many lenders, including banks, finance companies, payday lenders, and consumer lease providers have not effectively complied with legal obligations to ensure they do not provide borrowers with unsuitable loans. ASIC’s updated responsible lending guidance make existing laws clearer, easier to enforce and will help to hold…

Read More ASIC’s overhaul of responsible lending guidance should focus lenders on the welfare of borrowers

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Consumer regulators have today released a report on their collaborative efforts in administering the Australian Consumer Law (ACL) over the last twelve months. The report shines a light on some of the key policy, education and enforcement activities undertaken by the members of Consumer Affairs Australia and New Zealand (CAANZ) during the 2018-19 financial year,…

Read More Australian Consumer Law collaboration benefits consumers

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The Australian Communications and Media Authority (ACMA) has released its Combating Scams report which recommends new enforceable obligations on telcos and the immediate commencement of trials for a number of scam reduction initiatives. The trials aims to reduce common phone scams such as malicious ‘spoofing’, where scammers disguise their number to make it look like…

Read More ACMA recommends immediate action to combat scams

A broken tile house roof A broken tile house roof

“Stand up to the insurance lobby” – that’s the message of leading consumer groups as they deliver signatures of over 20,000 Australians to Parliament House in Canberra. The groups anticipate the Federal Government to act on “Unfair Contract Terms” laws this fortnight, closing a damaging loophole that has allowed insurance companies to profit by using…

Read More 20,000 Australians demand the end of unfair insurance

A close-up of an oven and dishwasher door A close-up of an oven and dishwasher door

Consumer Affairs Australia and New Zealand (CAANZ) has released two new guidance papers on the concepts of ‘durability’ and ‘safe’ under the consumer guarantees provisions of the Australian Consumer Law (ACL). The ACL creates a basic set of guarantees for consumers who acquire goods. One of these guarantees is that the goods will be of…

Read More New guidance on meaning of safe and durable products to provide clarity to consumers

A Stethoscope A Stethoscope

CHOICE research has discovered that Australians purchasing some Silver Plus health insurance policies are losing hundreds of dollars every year. The research follows CHOICE slamming the industry for rip-off Basic policies earlier this year. “Health insurers are scamming Australians with high-cost plus policies,” says Dean Price, Health Campaigner at CHOICE. “We’ve found over 215 Silver…

Read More Health insurers are scamming Australians with high-cost plus policies

A childs hands playing with toy blocks A childs hands playing with toy blocks

Australians could be at risk of injuries or even death from 6.6 million individual products currently under voluntary recall, with about half of these still likely to be found in people’s homes, new figures show. Figures show that each year the ACCC is notified of about 650 consumer product recalls, but only about half of…

Read More Over a million recalled products still in circulation in Australia

A house in the right corner of the image A house in the right corner of the image

The Federal Government has directed the ACCC to immediately commence an inquiry into home loan pricing. The ACCC is to investigate a wide range of issues ranging from the rates paid by new vs existing customers, how the cost of financing for banks has affected bank decisions on interest rates, and why RBA cuts aren’t always…

Read More ACCC commences pricing transparency inquiry for home loans

A wifi modem A wifi modem

The ACCC will consider whether Australians are able to access basic broadband plans at fair and affordable prices, as part of an inquiry into NBN wholesale charges launched on Monday. The inquiry will examine wholesale prices paid by retail service providers (RSPs), which use the NBN to supply residential-grade broadband services. The ACCC’s inquiry will…

Read More Affordability of basic NBN products to be examined