Report

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…

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The Australian Law Reform Commission’s final report into class action proceedings and third-party litigation funders has been publicly released after being tabled in Federal Parliament. The report is expected to stimulate debate amongst consumer advocates, the legal profession, the business sector, and across the wider community, on the issues raised by the report. In announcing…

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The Queensland Consumers Association says a major UK report on “loyalty penalties” (charging existing customers more than new ones) just released is very relevant to Australian consumers and the nation’s consumer protection and empowerment policies and practices. Association spokesperson, Ian Jarratt, says “loyalty penalties” are also a major problem for Australian consumers and this UK…

Read More Australia can learn from UK report on “loyalty penalties”

Banks breached their Code of Banking Practice 10,123 times in 2017–18, according to a Banking Code Compliance Monitoring Committee (CCMC) report released today. The CCMC said these self-reported breaches of the Banking Code affected more than 3.4 million people, costing them more than $95 million. However, these impacts are likely to be significantly understated. The number…

Read More Banks’ compliance, monitoring and reporting deficient, report finds

The Customer Owned Banking Code Compliance Committee (the Committee) released its Annual Compliance Report today. A copy can be downloaded here. The Committee welcomes an increase in self reporting of breaches of the Customer Owned Banking Code of Practice (the Code). However, many of those who subscribe to the Code still have work to do to achieve good…

Read More Customer Owned Banking Code Compliance Committee releases Annual Report 

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The Telecommunications Industry Ombudsman has published its 2017-2018 Annual Report today (17 October 2018). Launching the report, Ombudsman Judi Jones said, “The number of complaints about telecommunications services in Australia appear to be turning a corner. “Declining complaints across all landline, mobile and internet services are a positive indicator of recent industry, government and regulator efforts…

Read More Phone and internet complaints turning a corner

CHOICE and ACOSS’ research report Competition Policy and Human Services: Where Theory Meets Practice was released on Thursday 13th September 2018. The report assessed two areas of human service where various combinations of choice, contestability and competition have been significant in recent years – vocational education and training (VET) and employment services. It examined outcomes achieved,…

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Formal education provides a solid foundation for professional practice but alone does not give staff the skills, knowledge and behaviours needed to provide services competently, according to an inquiry undertaken by the Insurance Brokers Code Compliance Committee (the Committee). The inquiry found that staff needed to supplement their educational qualifications with on-the-job support and experience to develop…

Read More Brokers need formal qualifications and on-the-job training, inquiry finds

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Consumer advocates have welcomed the findings of the Australian Competition and Consumer Commission’s (ACCC) Retail Electricity Pricing Inquiry Final Report, released yesterday. Energy Consumers Australia Acting CEO Lynne Gallagher said the final report confirms what consumers have been saying: that the electricity market is not working as it should and not delivering good value for…

Read More Consumer advocates welcome ACCC Final Report on electricity market

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Financial Rights has today called on the general insurance industry to introduce a set of best practice standards for insurance investigations in its Code of Practice. This follows the release of the report titled Investigation of Claims and Outsourced Services by the insurance industry’s independent monitor – the General Insurance Code Governance Committee (CGC). The…

Read More Insurance Industry Must Act to Stamp Out Poor Investigation Practices