Finance Archives - Consumers' Federation of Australia

26 March , 2026

New Moneysmart Research Shows Gen Z Are Turning to Social Media and AI for Financial Advice

ASIC is urging young Australians to ‘sense check’ the information they see online, as new research shows nearly two thirds of Gen Zs are using social media and about one in five are using AI to make decisions about their financial future. Moneysmart’s Gen Z study found that while Gen Z has a strong appetite…

20 March , 2026

People in financial distress urged to seek help as interest rates rise

Today’s interest rate rise will add further pressure to Australians already struggling with housing costs and rising living expenses, with financial counsellors warning that more households may be pushed into financial distress. Demand for help is rising. In February there were?15,857 calls and online chats to the National Debt Helpline (NDH), the highest number recorded for the…

19 March , 2026

ASIC Launches Financial Complaints Data Dashboard

Australians now have unprecedented access to consumer complaints data following the launch of ASIC’s new interactive dashboard. The Internal Dispute Resolution (IDR) data dashboard enables users to compare the complaints reported by individual financial firms for the first time, including their handling of complaints associated with specific products like home loans, credit cards, life and general insurance,…

22 January , 2026

Karen Cox Appointed as Consumer Representative to COBCCC

The Customer Owned Banking Code Compliance Committee (COBCCC) has welcomed the appointment of Ms Karen Cox as its new Consumer Representative, bringing decades of consumer advocacy experience and deep expertise in banking reform to the Committee’s oversight of the Customer Owned Banking Code of Practice. Ms Cox has been appointed by the Consumers’ Federation of…

17 December , 2025

Consumer Representative Opportunity: Australian Banking Association Consumer Outcomes Group

The Consumers’ Federation of Australia (CFA) is inviting suitable applicants to apply for the role of consumer representative on the Australian Banking Association Consumer Outcomes Group. The Consumer Outcomes Group is a joint bank and consumer representative forum for discussing and responding to existing and emerging issues to improve consumer outcomes in retail banking. The COG…

30 October , 2025

Advocates Call for Immediate Crypto ATM Ban as Scam Victims are ‘robbed in broad daylight’

Crypto ATMs are a clear vector for scam activity focusing on older victims*, charging eye-boggling fees and causing massive harms – “the Albanese Government should do the right thing and ban them now” says Consumer Action Law Centre CEO, Stephanie Tonkin. AUSTRAC reports Australia’s crypto ATMs handle 150,000 transactions moving close to $275 million a year…

29 October , 2025

ATO’s Vulnerability Framework a Step in the Right Direction

Financial Counselling Australia (FCA) welcomes the Australian Taxation Office’s (ATO) new Vulnerability Framework as an important first step towards fairer treatment of people in financial difficulty but says the real test will be how it’s implemented. “The ATO’s Vulnerability Framework is an important step towards a fairer and more compassionate tax system. The next step will have…

3 October , 2025

Financial Counsellors Publish New Hardship Best-Practice Guide for Organisations

A new set of nationally endorsed Principles of Good Hardship Practice has been released, setting a best-practice guide for how organisations should support people experiencing financial difficulty. Developed by the financial counselling sector, the ten core principles focus on respectful communication, early intervention, and fair, compassionate support for people in hardship. “Too often, people in financial hardship…

2 October , 2025

AFIA Publishes New Code of Practice

The Australian Finance Industry Association (AFIA) has recently unveiled its Finance Industry Code of Practice – the first of its kind for Australia’s non-bank lending and specialist banking sector – setting a new benchmark for integrity, transparency and fairness across the industry. The Code reflects AFIA members’ commitment to protecting customers, strengthening trust and ensuring…

17 September , 2025

ANZ Admits to Unconscionable Conduct

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…

4 September , 2025

Independent Life Insurance Code Review – Consumer Sector Submission

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…

2 September , 2025

Call for Expressions of Interest for new COBCCC Consumer Representative

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…