Consumers' Federation of Australia

28 September , 2022

TIO Annual report shows poor mobile coverage the most prominent issue for telco services

In good news for consumers, complaints about phone and internet services decreased 33.4 per cent in the last financial year ending 30 June 2022. During this period, residential consumers and small businesses made 79,534 complaints to the Telecommunications Industry Ombudsman, highlighted in the Annual Report 2021-22 published today. This is a media release from Telecommunications Industry Ombudsman…

28 September , 2022

Worried about debt? Talk to your bank or creditors and avoid dodgy advice, warns AFSA

Australians are facing the perfect storm for increased financial insecurity in the next 12 months, making them vulnerable to dodgy insolvency advice. On the back of a tough few years of fire, drought, flood and the pandemic, rising interest rates and cost of living pressures mean that more Australians may struggle to pay their bills…

28 September , 2022

New protections for Victorian water customers

The state’s economic regulator today released updated water industry standards, strengthening support and protections for Victorian consumers, particularly those facing financial difficulties. This is a media release from the Essential Services Commission. It was originally published on 27th September, 2022. The Essential Services Commission’s water industry standards set out the minimum service requirements water businesses must meet, covering…

28 September , 2022

People should get their money back quicker and more easily following new ASIC guidance, say consumer advocates

The Australian Securities and Investment Commission (ASIC) has today published updated and revised remediation guidance for financial firms with the goal of treating wronged customers fairer and ensuring they repay losses companies have caused in a timelier fashion. This is a media release from Consumer Action Law Centre (CALC). It was originally published on 27th September, 2022. Consumer Action…

9 September , 2022

Circular economy – what does it mean to me?

We have traditionally taken a linear approach to products: we take, make, and discard. When a new phone is released, we simply dispose of the old one. We’re depleting a finite quantity of resources and degrading our planet in the process. We are crossing planetary boundaries, putting our own existence and wellbeing in jeopardy. This…

9 September , 2022

ASIC’s binary options ban extended until 2031

ASIC has extended its product intervention order banning the issue and distribution of binary options to retail clients until 1 October 2031. Since it came into effect on 3 May 2021, ASIC’s ban has been fully effective in preventing retail clients from losing money trading binary options in Australia. ASIC’s extension of the product intervention…

5 September , 2022

Performance test continues to drive improvement in underperforming super funds

In a clear sign that the tail of underperforming funds in the super sector is being cleaned up, only one additional product failed the performance test this year. A further four products failed for a second time, but three of these already have plans to exit the industry. This is a media release from Super Consumers Australia.…

5 September , 2022

Australians make submissions on proposed NZ grocery unit pricing system

Following its decision to require grocery retailers to provide consumers with unit pricing (pricing per unit of measure), the NZ government recently released a wide ranging Discussion Paper seeking views on many aspects of unit pricing, including system design, scope and implementation, prior to releasing draft legislation. It is now considering submissions received. The system…

5 September , 2022

ASIC review finds room for improvement remains with life insurance claims handling

ASIC’s review of nearly 4800 individual disability income insurance (IDII) claims received between 1 January and 30 June 2021 has found more work is needed by insurers to ensure that consumers are protected from unfair practices in non-disclosure investigations and physical surveillances. As a result of ASIC’s review, some life insurers have made improvements to…

5 September , 2022

Insurance in a Changing Climate – Event summary

The Insurance in a Changing Climate forum was held in Melbourne on 26 July 2022, with over 70 people attending from a range of sectors including financial counselling, consumer law, academia, government and industry. The event was hosted by Financial Counselling Victoria, the Brotherhood of St Laurence and the Melbourne Institute. Through three panel discussions, the forum…

31 August , 2022

Making Australia’s new homes more liveable

Federal, state and territory building ministers have agreed on a series of sweeping national reforms that will ensure that new homes in Australia will be more comfortable, liveable, accessible and energy efficient. This is a media release from The Hon Ed Husic MP: Minister for Industry and Science. It was originally published on 26th August, 2022. Industry…

25 August , 2022

Button batteries – draft standard open for public comment

Button batteries, also known as coin batteries, are used to charge devices that have a longer shelf-life, like a watch or the key to your car. They’re small, flat, and round. Button batteries can lead to serious internal burns in as little as two hours. If you have young kids and you haven’t heard of button batteries, they need…