elderly, hands, ring-981400.jpg
“COTA Australia has been calling for action to support older people better plan for retirement. Financial literacy and retirement income products are key elements to make sure people are confident to spend more than the legislated minimum draw down and support them to have a dignified retirement.”
Read More COTA: Federal Government Needs to Increase Services for All Ages
BET STOP: The National Self-Exclusion Register™
Financial Counselling Australia (FCA) has welcomed the start of Australia’s first online gambling exclusion register, while at the same time calling on governments to expand the facility to casinos, pokies and lotteries.
“We started advocating for this in 2015 and didn’t give up, because we always knew that an online gambling self-exclusion register would help a lot of people,” Ms Levin said.
“Now we call on the state premiers to make BetStop a national register for all forms of gambling, including casinos, pokies, and lotteries. It’s not rocket science to simply give people the protection that they are asking for.”
Read More FCA Welcomes BetStop, Calls for Register to Extend Further
receipt over weekly shopping items
Financial Counselling Australia’s latest report, ‘Small Loans, Big Problems’, has highlighted once more the need for urgent reform to the Buy Now Pay Later (BNPL), especially with the continued cost of living crisis and with many still feeling the impact of the 2022 floods.
Read More Buy Now Pay Later – Debt Traps and Essentials
knocker, metallic, door-1863290.jpg
Consumer groups and the financial counselling sector have welcomed the launch of a new customer code for the energy sector.
The Knock to Stay Connected customer code requires network companies to visit people at risk of disconnection and encourages them to outline the support and referral services available if the customer is having payment difficulties, with the aim of keeping them connected.
Read More Knock to Stay Connected: National Customer Code Welcomed by Consumer Groups
cost of living picture
Original article by Chris Siemers, posted on the Australian Financial Complaints Authority website on 05/06/2023. Hundreds of thousands of fixed-rate loans will roll onto much higher rates in coming months, catching up on a year of rate rises from which they have so far been quarantined. Some borrowers face the prospect of being tipped into…
Read More Mortgage Stress – Getting on the Front Roof
automobile, car, junkyard-3368094.jpg
The Australian Securities and Investments Commission (ASIC) has issued against used car lender Money3, claiming that it failed to adequately train staff on relevant credit laws and did not ensure proper financial checks on the affordability of the loan were made.
Read More Enforcement Action Taken Against Money3
Hands opening an empty brown leather wallet
One year after 120 consumer groups signed an open letter to have BNPL regulated as conventional credit, the Assistant Treasurer Stephen Jones MP has announced that BNPL will largely be brought in line with the Credit Act – though not all requirements will be applied.
Read More Regulation of Buy Now, Pay Later Announced – Consumer Groups Respond
“The $7.75 million will enable the foundation to not only provide support to existing grants that are
about to expire, but also implement new projects,” Mr Brouwer said. “This comes at a time of great
financial hardship and, consequently, a time of huge pressure on the financial counselling sector.
“Our funding priorities include family violence victims, tenants at risk of homelessness, First Nations
communities and people in prison.”
Post thumbnail
A tenancy advocate and financial counsellor, a domestic violence support group, a child safety program and media stories about funeral insurance were the winners of the 2022 Consumer Protection Awards. This is a media release from The Government of Western Australia: Department of Mines, Industry Regulation and Safety. It was originally published on 2nd August, 2022. The winners…
Read More Family violence, child safety, funeral insurance in awards spotlight
Post thumbnail
Financial counsellors applaud the Australian Communications and Media Authority (ACMA) for imposing the largest penalty ever given a fine of $2.5 million on Sportsbet. This is a media release from Financial Counselling Australia. It was originally published on 10th February, 2022. The betting company will also refund customers $1.2 million after an extensive ACMA investigation found it had…
Read More FCA welcomes tough stance by ACMA on unlawful spamming by Sportsbet
Post thumbnail
Quality financial advice can improve financial security, give greater peace of mind and the freedom to pursue lifestyle goals. Super Consumers Australia has used this year’s Budget submission to call for the Government to investigate solutions to guarantee trusted guidance so all Australians can achieve these same goals. This is a media release from Super Consumers Australia. It…
Read More A guidance guarantee for all: Super Consumers Australia calls for improvements to retirement guidance
Post thumbnail
A new survey of financial counsellors about the impact of buy now pay later (BNPL) on their clients is a wake up call to the community about this new form of debt. This is a media release from Financial Counselling Australia . It was originally published on 6th December, 2021. The report’s title says it all: It’s credit, it causes…
Read More New report shows buy now pay later debt is causing significant financial stress
