Accessibility Archives - Page 9 of 13 - Consumers' Federation of Australia

27 June , 2023

“Historic moment for consumer financial protection”: CHOICE on the passage of compensation scheme of last resort

The Federal Parliament has passed the Treasury Laws Amendment (Financial Services Compensation Scheme of Last Resort) Bill 2023 to establish an industry-funded compensation scheme of last resort for victims of financial misconduct. Quotes attributable to Alan Kirkland, Chief Executive Officer of CHOICE: “The introduction of a compensation scheme of last resort is an historic moment…

20 June , 2023

Australian Energy Regulator Outlines its 2023-24 Compliance and Enforcement Priorities

The Australian Energy Regulator (AER) has outlined its 2023–2024 Compliance and Enforcement Priorities to protect energy consumers and keep the energy system stable and secure during the transition.

6 June , 2023

Mortgage Stress – Getting on the Front Roof

Original article by Chris Siemers, posted on the Australian Financial Complaints Authority website on 05/06/2023. Hundreds of thousands of fixed-rate loans will roll onto much higher rates in coming months, catching up on a year of rate rises from which they have so far been quarantined. Some borrowers face the prospect of being tipped into…

Image 12 May , 2023

Financial Counselling Foundation Welcomes Generous Industry Donation

“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.”

10 May , 2023

Problems Persist but Hold Steady – TIO 3rd Quarterly Report

The Telecommunications Industry Ombudsman’s (TIO) Quarter Three Complaints Report shows residential consumers and small businesses made 17,777 complaints about phone and internet services between January and March this year. While complaints have remained steady compared to the previous quarter, the results show an almost 19 per cent decrease against the same period last year.

Image 2 May , 2023

Consumers Want (and need) More from Telcos

“Cost of living issues aren’t going away for the foreseeable future, so it’s particularly concerning that over 40% of the Australian adult population are unaware that they can contact their telco provider for help managing their bills. This research shows that it is imperative that financial hardship policies are promoted by telcos and made easily accessible on their websites,”

Image 19 April , 2023

ACCC Calls for United Front as Scammers Steal Over $3bn from Australians

The Australian Competition and Consumer Commission (ACCC) has just released its 2022 Targeting Scams report in which it found an 80% increase in total losses compared to 2021. Using data from regulators and government agencies, the report highlights the need for further collaboration between government bodies, banks, regulators, telcos, and digital platforms to close “significant…

Image 11 April , 2023

COTA: Don’t lock vulnerable Australians out of banking

The trend towards digital and cashless banking is already negatively impacting many vulnerable Australians as COTA (Council on the Ageing) highlighted in their recent media release, as seen below: The closure of cash services at bank branches risks cutting off access to vital and basic banking services for many older Australians, particularly our most vulnerable,…

Image 6 April , 2023

APRA Launches Public Consultation on Banks’ ‘Points of Presence’ Data

Media release from Australian Prudential Regulation Authority (APRA), originally released here on 4/04/2023 The Australian Prudential Regulation Authority (APRA) is launching a public consultation on its “points of presence” data – the data APRA collects and publishes on physical banking service channels in Australia. APRA publishes a detailed listing of the number of bank branches,…

27 October , 2022

AFCA releases 2021–22 Annual Review

The 2021–22 AFCA Annual Review is now available. We are proud to present this year’s Annual Review, which highlights all AFCA has achieved in the 2021–22 financial year. The financial services sector in Australia has experienced an extraordinary level of uncertainty and volatility in the last financial year. This has been driven by the lingering…

8 August , 2022

Consumer Check-in: Expectations in 2022

ACCAN recently commissioned research asking the Australian public about their top concerns when it comes to their communications services. This is a media release from the Australian Communications Consumer Action Network (ACCAN). It was originally published on 27th July, 2022. We surveyed nearly 1000 (n=998) Australians on a range of topics. We asked people about the affordability and…

8 July , 2022

ASIC helps credit providers protect victims of family violence

ASIC has adopted a temporary no-action position to enable large banks (‘eligible licensees’) to withhold the reporting of certain credit information on consumer credit reports where reporting the information could lead to consumer harm, including where a consumer may be the victim of family violence. This is a media release from the Australian Securities & Investments Commission (ASIC).…