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Financial Counselling Australia (FCA) welcomes the announcement that ANZ has admitted to widespread misconduct and has agreed to pay $240 million in penalties. ANZ has admitted to unconscionable conduct, overstating bond trading data by tens of billions, and widespread misconduct affecting nearly 65,000 customers. The matters will now be considered by the Federal Court which…
Read More ANZ Admits to Unconscionable Conduct
News
The Council of Australian Life Insurers (CALI) has recently appointed Peter Kell to conduct and Independent Review of the Life Insurance Code of Practice (the Life Code). As part of the Review, the Consumers’ Federation of Australia has been asked to select an appropriate organisation from our members to conduct a funded sector-wide submission to…
Read More Independent Life Insurance Code Review – Consumer Sector Submission
Here to Help
The Consumers’ Federation of Australia (CFA) is inviting suitable applicants to apply for the role of consumer representative on the Customer Owned Banking Code Compliance Committee (COBCCC). Details of the purpose and conditions of the role, including renumeration, are as follows: Purpose of the COBCCC Purpose of the Consumer Representative A Consumer Representative to the…
Read More Call for Expressions of Interest for new COBCCC Consumer Representative
SCAM
Australians reported more than 108,000 scams and financial losses of about $175 million to the National Anti-Scam Centre’s Scamwatch service in the first half of 2025, with fake websites, online advertisements, and contact through social media criminals’ preferred methods of reaching people. This Scams Awareness Week (25-29 August), the National Anti-Scam Centre is joining together…
Read More Scam Reports Down and Monetary Losses Up from 2024
News
The Council of Australian Life Insurers (CALI) has recently appointed Peter Kell to conduct and Independent Review of the Life Insurance Code of Practice (the Life Code). As part of the Review, the Consumers’ Federation of Australia has been asked to select an appropriate organisation from our members to conduct a funded sector-wide submission to…
Read More Consumer Sector Submission for Independent Life Insurance Code Review
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A report released today (August 7 2025) by the Telecommunications Industry Ombudsman (TIO) finds telcos are failing to consistently support customers in financial hardship and, in some cases, are unintentionally causing or making financial stress worse. The report, ‘Keeping connected: Experiences of telco consumers in financial hardship,’ is informed by a review of over 900…
Read More New Report Shows Telcos Continue to Fail Vulnerable Consumers
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Australia’s peak communications consumer body, ACCAN, has welcomed news that Optus will pay one of the largest consumer law penalties in Australian history – a $100 million fine, subject to court approval, for unconscionable conduct. ACCAN CEO Carol Bennett said, “Unconscionable conduct is a high bar and one that Optus has spectacularly surpassed in its behaviour…
Read More Optus Admits to Unconscionable Conduct, Advocates Welcome ACCC Action but Highlight Need for Strong Telco Regulation
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The Indigenous Consumer Assistance Network (ICAN) has welcomed the Australian Securities and Investments Commission’s (ASIC) timely review of the motor vehicle finance industry. The review aims to address systemic issues affecting consumers in regional, remote, and First Nations communities. ASIC’s review, announced in March, will scrutinise lenders, brokers, and intermediaries for compliance with consumer protection…
Read More ICAN welcomes ASIC review into motor vehicle finance industry
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The National Anti-Scam Centre has seen a significant rise in financial criminals targeting Australians in phishing scams that scare people to believe that their bank accounts or cryptocurrency wallets have been hacked or compromised. These scams use a sense of urgency and fear to make people act quickly and use phrases such as ‘account compromised’,…
Read More National Anti-Scam Centre warns that criminal ‘account compromised’ scams are on the rise
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The ACCC has released a draft determination proposing to grant authorisation with conditions to allow the Australian Sustainable Finance Institute (ASFI) and industry participants to collaborate on sustainable finance initiatives for five years. ASFI is seeking authorisation for itself, ASFI members and other industry participants to exchange information to improve the integration of natural capital…
Read More ACCC’s draft authorises collaboration on sustainable finance initiatives
News
Financial counsellors have launched their federal election campaign – When every dollar counts, so does financial counselling – we can’t afford to wait. Financial Counselling Australia (FCA), along with all the state financial counselling associations, is calling for a commitment from all sides of politics to provide increased and more sustainable funding, particularly for face-to-face financial…
Read More Every dollar counts – financial counsellors launch election campaign
TIME for CHANGE
[S]uper funds are blind to their own failures, with no targets, no monitoring, and no accountability…we’ve seen people subject to years of delay. These are people who’ve just lost a loved one—and they’re forced into a bureaucratic maze with no end in sight.
Read More ASIC report reinforces urgent need for mandatory super standards
