Code compliance

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Total breaches of Code obligations have increased for a third consecutive year according to the latest report released by the Life Insurance Code Compliance Committee (Life CCC). Despite the total breaches rising by 9%, the Annual Industry Data and Compliance Report found that the number of customers impacted by breaches declined between 1 July 2022 and 30…

Read More Life Insurance Annual Data and Compliance Report 2022-2023: The Fall and Rise of Breaches

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First Nations and other consumer advocates have welcomed the extension of ASIC’s interim Stop Order on Coral Coast Distributors (Cairns) Ptd Ltd trading as Urban Rampage (Urban Rampage) retail stores, where customers enter agreements to pay for goods on credit through Centrepay deductions. The original stop order was imposed because ASIC received complaints about Urban…

Read More Continued Ban of Business Centrepay Use in Remote Australia Welcomed as Advocates Call for Broader Centrepay Reform

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The Australian Finance Industry Association (AFIA) is reviewing its Car Rental Code. Signatories of this code include Avis Budget Group, Hertz, Europcar, Thrifty, East Coast Car Rentals, Sixt, Bayswater Car Rental and Redspot/Enterprise. The Code ensures an industry standard is met on a number of issues, including transparency of pricing and credit card charging practices,…

Read More Seeking CFA Member to Prepare a Submission to a Review of the AFIA Car Rental Code

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About the Opportunity Established in 2021, the Buy Now Pay Later (BNPL) Code of Practice sets best practice standards for the sector and strengthens consumer protections. The BNPL providers accredited to this Code represent an estimated 95 percent of the BNPL market – Afterpay, Brighte, Humm Group, Klarna, Payright, Plenti and Zip Co. The Australian…

Read More Consumer Representative Opportunity: Buy Now Pay Later Code Compliance Committee

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Original media release by and for COTA (12/03/2024). Federal Goverment must deliver robust Aged Care Act without delay. Rights of older people have been ignored for too long The Federal Government must finally deliver a new Aged Care Act that protects and enforces the rights of older people, allows visitors in aged care at all…

Read More Advocacy Groups Urge Action for a Robust Aged Care Act

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“This is completely inappropriate,” said Lauren Levin, The Director of Policy and Campaigns at FCA. “It was shown at a time when children would be watching. ‘Set for Life’ is exposing children to a gambling product and we know gambling can be very harmful.”

One of the contestants won a challenge and part of her prize was a ‘Set for Life’ package worth $60,000. The logo was displayed a number of times during show segments and the product was also mentioned on numerous occasions throughout the episode.

Read More FCA Calls for In-Program Gambling Ads to be Removed from Survivor

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Original media release from the ACCC (7/03/2024). Consumer and competition issues in the supermarket sector and essential services including electricity and financial services are among the ACCC’s compliance and enforcement priorities for the year ahead, ACCC Chair Gina Cass-Gottlieb announced today. “Our priorities continue to be shaped by the key challenges facing our economy and the…

Read More ACCC Announces 2024-25 Enforcement Priorities

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A lack of transparent pricing information caused a poor understanding by consumers of how prices were set. This was significantly worsened by a lack of competition. While market concentration was a major issue, the inquiry found prices in Australia are way higher than in many other less competitive markets.

Large price increases occurred across many sectors.

Read More Supermarkets, airlines and power companies are charging ‘exploitative’ prices despite reaping record profits

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A coalition of advocacy groups, including Consumer Action Law Centre, CHOICE and the Australian Communications Consumer Action Network, have come out forcefully stating that customer reimbursement, paid for by industry through a customer’s own bank, must be at the centre of the Federal Government’s proposed new scam laws. The advocates say the new laws must be urgently implemented by the end of this year to stop the billions of dollars that are being lost by Australians every year to scammers.

Read More Industry Liability the Clear Path to Scam Reform

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Despite a decline in breaches overall, the latest report from the Banking Code Compliance Committee (BCCC) shows a concerning increase in breaches of bank obligations to support customers facing financial difficulty.

The report, Compliance with the Banking Code of Practice for January to June 2023, notes that breaches of obligations for dealing with customers facing financial difficulty have increased by nearly 40%.

This comes amidst a 9% decline in overall breaches, signalling a welcome success in efforts to improve practices.

Read More Increase in Banks’ Breaches of Financial Difficulty Obligations