Finance Archives - Page 27 of 73 - Consumers' Federation of Australia

1 April , 2022

Customer Owned Banking Code Compliance Committee releases Annual Data Report

The independent committee that monitors the Customer Owned Banking Code of Practice (the Code) has released its Annual Data Report. Drawn from breach and complaints data and from detailed discussions with all Code subscribers, the report includes insights, recommendations and examples of good practice. This is a media release from the Customer Owned Banking Code Compliance Committee (COBCCC).…

18 March , 2022

Global alliance calls for regulation of harmful buy now, pay later industry

CHOICE has joined consumer groups from 9 countries, including Consumers’ Federation of Australia (CFA), calling for urgent action on buy now, pay later (BNPL) credit providers as new data shows many Australians are struggling with this form of debt. This is a media release from CHOICE. It was originally published on 17th March, 2022. The global statement…

16 March , 2022

Victorian Pride Lobby surveying discrimination in insurance

The Victorian Pride Lobby is surveying LGBTIQA+ Australians on their experiences with and perceptions of insurance products and companies. The goal of this community survey is to provide actionable recommendations for the insurance industry to improve processes and products and for communications to be more inclusive of LGBTIQA+ customers. This survey is being conducted independently…

15 March , 2022

NIBA launches new Insurance Brokers Code of Practice

The National Insurance Brokers Association (NIBA) has launched its new Insurance Brokers Code of Practice. This is a media release from the National Insurance Brokers Association (NIBA). It was originally published on 1st March, 2022. Consumers’ Federation of Australia (CFA) made two submissions to the independent review of the Code. NIBA President Dianne Phelan said that “the…

15 March , 2022

Super Consumers Australia launches consultation on retirement savings targets

The research released for consultation today is designed to help Australians answer one of the most important financial questions they face, “how much do I need to save for retirement?” “Our goal is to develop trustworthy retirement targets that give people a solid ‘rule of thumb’ on what they’ll need to save to maintain their…

14 March , 2022

Protecting the Basics report highlights insurance gaps

South Australian Council of Social Service (SACOSS) has released a new report: Protecting the Basics: Insurance access for people on low incomes at risk from climate emergencies. The report finds that there is a significant proportion of people in South Australia on low incomes with uninsured homes, contents, and cars because they can’t afford insurance. It…

11 March , 2022

Confusing insurance definitions for extreme weather events must be standardised

Australians who face devastating property losses following natural disasters such as the recent floods confront further hardship when trying to claim on their insurance because of confusing terms and conditions and fine print limitations in their policies. This is a media release from Financial Rights Legal Centre. It was originally published on 10th March, 2022. A new report…

17 February , 2022

Super Consumers Australia welcomes Retirement Income Covenant

Super Consumers Australia says the Covenant will bring a much-needed focus to how super funds can support Australians manage their income in retirement. Now, attention needs to shift to how best to support people through the complex retirement planning process. This is a media release from Super Consumers Australia. It was originally published on 10th February, 2022.…

10 February , 2022

FCA welcomes tough stance by ACMA on unlawful spamming by Sportsbet

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…

8 February , 2022

Morrison Government to deliver reduced premiums through reinsurance pool

The Morrison Government has finalised the design of the reinsurance pool for cyclone and related flood damage, following consultation on the draft legislation. This is a media release from The Hon. Josh Frydenberg MP, Treasurer of the Commonwealth of Australia & The Hon. Scott Morrison MP, Prime Minister & The Hon. David Littleproud MP, Minister for Agriculture…

8 February , 2022

A guidance guarantee for all: Super Consumers Australia calls for improvements to retirement guidance

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…

7 February , 2022

SAVE THE DATE: World Consumer Rights Day 2022, Fair Digital Finance Forum, Monday 14 – Friday 18 March

Consumers International are hosting the upcoming Fair Digital Finance Forum, in celebration of World Consumer Rights Day 2022. This is a news item from Consumers International. It was received on 7th February, 2022. Consumers International’s Fair Digital Finance Forum will spark the first-ever global conversation around consumer-centred solutions in digital financial services. It will bring together diverse voices…