EDR Archives - Page 2 of 5 - Consumers' Federation of Australia

17 November , 2022

Australians send 300,000 complaints to AFCA in 4 years

Australians took more than 300,000 disputes to the Australian Financial Complaints Authority (AFCA) in its first four years, with consumers securing nearly $900 million in compensation and refunds. AFCA also identified and reported 227 definite systemic issues and serious contraventions of the law to federal regulators, resulting in an additional $280 million in refunds to…

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…

12 August , 2022

ASIC’s surveillance of internal dispute resolution in superannuation identifies concerns

Superannuation trustees are being urged to review their internal dispute resolution (IDR) arrangements after the first stage of an ASIC surveillance found indicators of significant compliance issues. This is a media release from the Australian Securities & Investments Commission (ASIC). It was originally published on 10th August, 2022. ASIC’s surveillance examines trustees’ compliance with the new enforceable requirements…

12 April , 2022

Consumer Guarantees – reimaging redress for consumers

Consumer groups welcomed the consultation on improving the effectiveness of the consumer guarantee and supplier indemnification provisions under the Australian Consumer Law. Ideally, under the Australian Consumer Law, products and services come with a guarantee that they are of acceptable quality, safe with no faults and fit-for-purpose. And when these are not met, consumers are…

10 February , 2022

Phone and internet complaints decline for fifth consecutive period

The Telecommunications Industry Ombudsman’s Quarter Two Complaints Report shows phone and internet complaints declined for the fifth consecutive period. This is a media release from the Telecommunications Industry Ombudsman. It was originally published on 9th February, 2022. Residential consumers and small businesses made 18,386 complaints, a decrease of 14.2 per cent compared to the previous quarter, and 39.7…

17 December , 2021

Productivity Commission’s Final Report on “Right To Repair” Released

Prepared by CFA Executive Member Ian Jarratt, of Queensland Consumers Association. He can be reached at ijarratt@australiamail.com. The final report was handed to the Australian Government on 29 October 2021 and publicly released on 1 December 2021. The Government has not yet announced its response to the report. CFA and several member organisations participated in the…

30 June , 2021

The need of an ‘UN Consumer Global Compact’

Presented at the 2021 UN Trade Forum, Geneva – June 2021 In recognition of the digital economy and the growth of big tech and sharing platforms, a call has been made to ask responsible businesses to voluntarily join a principles-based approach to doing business globally, a new ‘UN Consumer Global Compact’ which seeks to enhance…

24 May , 2018

Guidelines for development and review of industry codes & EDR schemes

The Consumers’ Federation of Australia has recently developed a set of good practice principles to offer guidance to industry bodies and EDR schemes about good practice in ensuring effective consumer input, including good practice in involving the consumer sector. The principles also set out consumer sector expectations for review processes. Read the document in full here.

20 December , 2017

Better dispute resolution for cars needed, say ACCC and Consumer Action

The ACCC last week released the final report from its market study into Australia’s new car retailing industry following 18 months of extensive research, investigations and consultation with industry and consumer groups. “The ACCC recommends several reforms to improve the new car retailing industry, which should lead to better outcomes for consumers. Some will require industry led…

8 October , 2017

Fix my car! One-year wait for proper dispute resolution for cars

One year ago today, the Access to Justice review was released by the Victorian Government. The review proposed a sensible fix for the thousands of Victorians who buy lemon cars each year. To mark the date, Consumer Action Law Centre (Consumer Action) is launching a new campaign, “Fix my car”, to drive home the need to implement this…

7 December , 2016

Victims of financial scandals need simple justice – response to Ramsay EDR Review

Following the slew of financial scandals Australians have faced in recent years, consumer advocates say that Australians need simple and accessible justice with reformed Ombudsman services. The Review of the Financial System External Dispute Resolution and Complaints Framework (Ramsay Review), led by Professor Ian Ramsay, today released its interim report. In response to the review,…

2 September , 2016

Is a banking tribunal really the answer?

Consumers Federation Australia along with the Consumer Action Law Centre, Financial Rights Legal Centre and Financial Counselling Australia have written a letter to the Prime Minister, Minister for Financial Services and the Treasurer in response to announcements of the Federal Government possibly instituting a financial services tribunal. CFA, along with other signed organisations have raised…