Financial Counselling 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…

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…

8 August , 2025

New Report Shows Telcos Continue to Fail Vulnerable Consumers

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…

18 June , 2025

Optus Admits to Unconscionable Conduct, Advocates Welcome ACCC Action but Highlight Need for Strong Telco Regulation

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…

22 April , 2025

Every dollar counts – financial counsellors launch election campaign

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…

12 March , 2025

Free financial counselling available to those impacted by natural disasters

Financial Counselling Australia (FCA) is reminding those who may be impacted by Cyclone Alfred, there is free financial counselling available. “Weather disasters can lead to unexpected financial problems, and some may find themselves in financial hardship,” said Louise Hayes, FCA’s National Coordinator of Disaster Recovery. “It’s important to know there are financial counsellors who can…

27 February , 2025

Recent natural disasters highlight the need for ‘disaster qualified’ FCs

North Queensland has just experienced another catastrophic flooding event, marking the second “once-in-a-century” flood in just six years. Ingham and areas surrounding Townsville were inundated, leading to mass evacuations, significant infrastructure damage, and tragic loss of life. The Herbert River reached levels unseen since 1967, overwhelming communities and causing widespread devastation. In February 2019, ‘The…

16 January , 2025

Number of People Reaching Out to the NDH Increases

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…

10 December , 2024

Community Advocates Welcome Government Report on Financial Abuse

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…

6 December , 2024

Review Finds Systemic Failures in Insurers’ Internal Dispute Resolution

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…