Code compliance Archives - Page 13 of 13 - Consumers' Federation of Australia

28 August , 2019

CFA joins the Stop the Debt Trap Alliance

Consumers’ Federation of Australia has joined a group of financial experts, community advocates, and service providers determined to see stronger laws implemented to protect Australians from irresponsible lenders. The Alliance’s statement: To the Australian Government: Every day our organisations deal with Australians who have been trapped in crippling debt due to high-cost fast loans and…

27 August , 2019

Austroads invites responses to Motorised Mobility Devices Discussion Paper

Austroads, the peak organisation of Australian road transport and traffic agencies, has released a Discussion Paper on Motorised Mobility Devices (MMDs). The paper explores establishing a National Registration and Licencing Scheme and Technical Specification for MMDs, also known as powered wheelchairs or mobility scooters. The Austroads Discussion Paper AP-C107-19 makes a number of recommendations and…

3 July , 2019

New Banking Code Compliance Committee open for business

From 1 July 2019, the new Banking Code Compliance Committee (BCCC) will monitor banks’ compliance with the 2019 Banking Code of Practice (the Code). The BCCC will work with banks and stakeholders to ensure that the high standards of service and other promises made to customers through the Code are embedded and adhered to by the 19…

10 April , 2019

Deliver strong and fair culture or risk business, insurers told

Insurers should accept the challenge of embedding a strong culture of fairness, honesty and transparency, or risk being forced out of business, according to an insurance compliance leader. Lynelle Briggs AO, Independent Chair of the General Insurance Code Governance Committee (the Committee), said there was evidence that some subscribers were not taking the Code and…

28 March , 2019

Life insurance code monitoring body delivers report on Australian life insurance industry compliance

Almost 38 million life insurance cover types were in force at 30 June 2018, according to the inaugural Annual Industry Data and Compliance Report compiled by the Life Code Compliance Committee (LCCC). The report is based on information provided by subscribers to the Life Insurance Code of Practice). Death (41%) and total and permanent disability…

12 December , 2018

Codes of Practice and financial difficulty

Financial institutions who subscribe to a Code of Practice have obligations to consumers experiencing financial difficulty. The independent committees who monitor the Codes urge consumers to also be aware of these obligations. In 2018, financial difficulty was a particular focus of the committees, especially in the banking sphere where an inquiry found that customer requests…