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There’s been a significant increase in the number of people reaching out to the National Debt Helpline (NDH) over the past year. During 2024 more than 169,000 people called in or used the online chat tool to seek help from financial counsellors – a 12% increase on 2023. Total visits to the NDH website also…
Read More Number of People Reaching Out to the NDH Increases
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HSBC Bank Australia Limited (HSBC Australia) failed to adequately protect customers scammed out of millions of dollars, according to documents filed by ASIC in the Federal Court today. ASIC alleges HSBC Australia failed to have adequate controls in place to prevent and detect unauthorised payments and failed to comply with its obligations to investigate customer…
Read More Win for Consumers and Advocates as ASIC Sues HSBC Australia, Alleges “widespread and systemic” failings
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Public comment and submission is now open for the Victorian Bar, Western Australian Bar, and Chartered Accountants Australia and New Zealand’s proposed Professional Standards Schemes. A professional standards scheme is a legal instrument that limits the occupational liability or damages that can be awarded against a member of the association to whom a scheme applies.…
Read More Bar and Accounting Professional Standards Schemes Open for Comment and Submissions
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Today (5 December) the Parliamentary Joint Committee on Corporations and Financial Services will release its long-awaited report from the inquiry into the Financial Services Regulatory Framework in Relation to Financial Abuse, which commenced in April 2024. Members of the Economic Abuse Reference Group, a national network of over 50 community organisations that work with government…
Read More Community Advocates Welcome Government Report on Financial Abuse
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Financial Counselling Australia (FCA) has welcomed an ASIC report calling on Australia’s insurers to improve their complaints handling processes. “We are disappointed but not surprised.?The findings from ASIC’s review of insurance complaints handling mirrors the experience of many financial counsellors supporting their clients through the claims process,” said Vicki Staff, FCA’s insurance expert. ASIC’s review of…
Read More Review Finds Systemic Failures in Insurers’ Internal Dispute Resolution
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The Banking Code Compliance Committee (BCCC) is developing their priorities for 2025-26 and is inviting interested parties to complete a short survey to share “new or emerging risks, issues or practices that you believe are concerns and causing harm to consumers or leading to poor outcomes”. The survey is open from 2/12/2024 to 7/02/2025 and survey…
Read More Banking Code Compliance Committee 2025-26 Priorities Consultation
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Consumer Action Law Centre CEO Stephanie Tonkin said she was absolutely delighted that Minister Bill Shorten has announced consumer protections and reforms to Centrepay that restore it to its original purpose; that it should only be used by consumers to make regular voluntary payments for essential bills and expenses. (link to media release) “We have…
Read More New Centrepay Reform Bans Predatory Rent-to-Buy’s in Win for Consumers and Advocates
Knowledge is Power
ICAN’s Yarnin’ Energy team launched a ‘Get emPOWERed!’ competition on Monday the 11th of November. The competition has been designed to engage people to participate in the coaching component of our Yarnin’ Energy program. “The first fifty people to book and attend an appointment with one of our Yarnin’ Energy Mentors will receive a FREE Energy…
Read More ICAN Launches ‘Get emPOWERed!’ Competition through Yarnin’ Energy Program
Logos for: Consumer Action Law Centre, Ican, Financial Rights Legal Centre, Mob Strong Debt Help, Financial Counselling Australia, Super Consumers Australia
Below is a joint submission made on behalf of: •Consumer Action Law Centre•Financial Counselling Australia•Financial Rights Legal Centre•Indigenous Consumer Assistance Network•Mob Strong Debt Help•Super Consumers Australia. This media release and joint submission was found on Consumer Action Law Centre’s website here: Our organisations welcome the opportunity to provide feedback on the proposed changes to the…
Read More Joint Submission Details Challenges and Fixes for IDs
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Consumer groups have welcomed the release of the Final Report of the Standing Committee on Economics’ Inquiry into Insurer’s responses to 2022 Major Floods. The groups have called on the insurance sector and the Insurance Council of Australia to accept all the recommendations and implement changes to their internal processes and the Code of Practice…
Read More Advocates Welcome Flood Inquiry Report, Urge Government to Act Now
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Financial Counselling Australia (FCA) has welcomed the Federal Government announcement of the next round of grants for Financial Wellbeing and Capability programs. ? Applications are now open for the following grant programs: Closed grant processes will follow for the National Debt Helpline, No Interest Loans Scheme (NILS), NILS for Vehicles, Saver Plus and Financial Counselling and…
Read More Grants Open for Financial Wellbeing and Capability
SCAM ALERT
The National Anti-Scam Centre is warning Australians that criminals are impersonating charities and offering fake financial assistance schemes to target people experiencing financial hardship. No Interest Loan Schemes are offered by trusted charities such as Good Shepherd and the Salvation Army and are intended to support low-income earners and people in hardship who are experiencing…
Read More People in Hardship Targeted in Criminal Financial Assistance Scams
