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AI is a rapidly growing area and increasingly relevant to our everyday lives – both positively and negatively. The Australian Federal Government has now opened consultation on the safe and responsible use of AI.
Read More Consultation Opens on Artificial Intelligence
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Australia’s eSafety Commissioner has made the decision not to register two of eight online safety codes drafted by the online industry as they fail to provide appropriate community safeguards to deal with illegal and harmful content online.
Read More eSafety Commissioner Accepts Some, Rejects Others in World-First Industry Codes
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The Australian Securities and Investments Commission (ASIC) has issued against used car lender Money3, claiming that it failed to adequately train staff on relevant credit laws and did not ensure proper financial checks on the affordability of the loan were made.
Read More Enforcement Action Taken Against Money3
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Despite this slight decrease in resolutions and the facilitation of other outcomes (such as correcting the status of an account), AFCA also so over $28 million more go to consumers then in the previous financial year
Read More AFCA Publishes Second Systemic Issues Insights Report
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One year after 120 consumer groups signed an open letter to have BNPL regulated as conventional credit, the Assistant Treasurer Stephen Jones MP has announced that BNPL will largely be brought in line with the Credit Act – though not all requirements will be applied.
Read More Regulation of Buy Now, Pay Later Announced – Consumer Groups Respond
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John Trowbridge has just released the third phase of his independent review into strata or body corporate insurance practices. The synopsis found here and released on Trowbridge’s website, places priority on implementing a disclosure regime, the focus of Trowbridge’s Phase 1 paper, and working with all relevant parties to alleviate the current and ongoing market capacity problem.
Read More Trowbridge Strata Insurance Review Phase 3 – “a blueprint for affordability, availability and competition”
The Australian Competition and Consumer Commission (ACCC) and CHOICE, along with other consumer advocacy organisations, have welcomed the Australian Governments commitment of $58 million for the establishment and running of the National Anti-Scam Centre (NASC) to be implemented over the next two years.
Read More National Anti-Scam Centre Welcomed by ACCCC and CHOICE
From July 2024 select advocacy groups for consumers and small business will be able to lodge complaints with the Australian Competition and Consumer Commission (ACCC) – and the ACCC will be obligated to respond. From the website of Assistant Minister for Competition, Charities and Treasury, Andrew Leigh MP:
Read More Designated Complaints Function Announced
“The $7.75 million will enable the foundation to not only provide support to existing grants that are
about to expire, but also implement new projects,” Mr Brouwer said. “This comes at a time of great
financial hardship and, consequently, a time of huge pressure on the financial counselling sector.
“Our funding priorities include family violence victims, tenants at risk of homelessness, First Nations
communities and people in prison.”
Original from the Insurance Council of Australia (ICA), released there on 10/05/2023. The Motor Vehicle Insurance and Repair Industry (MVIRI) Code of Conduct Committee (CAC) has received Dr Michael Schaper’s final report on the independent review of the Motor Vehicle Insurance and Repair Industry Code of Conduct (the Code). The report provides 15 recommendations in…
Read More Motor Vehicle Insurance and Repair Industry Code of Conduct – Independent Review
ASIC is warning credit providers and debt management firms that strong, targeted action against predatory lending, high-cost credit and misconduct impacting consumers experiencing financial difficulty is expected in the coming months as part of its continuing focus on protecting consumers.
Read More ASIC Sharpens Focus on Credit and Debt Management
Original media release on 9/05/2023 by Super Consumers Australia (SCA). The Federal Government has strengthened the superannuation system today by ensuringpeople are paid the super they earn, creating fairer super tax concessions and providinglong-term funding to continue an independent superannuation consumer advocate. SuperConsumers Australia has been delivering on this mission for the last five years…
Read More Voice for Consumers Will Strengthen Superannuation
