Finance Archives - Page 4 of 74 - Consumers' Federation of Australia

2 December , 2024

ICAN Launches ‘Get emPOWERed!’ Competition through Yarnin’ Energy Program

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…

8 November , 2024

Joint Submission Details Challenges and Fixes for IDs

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…

26 October , 2024

Advocates Welcome Flood Inquiry Report, Urge Government to Act Now

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…

25 October , 2024

Grants Open for Financial Wellbeing and Capability

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…

21 October , 2024

People in Hardship Targeted in Criminal Financial Assistance Scams

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…

19 September , 2024

Savings from Cyclone Reinsurance Pool Present, Offset by Cost Increases

The Australian Government’s cyclone reinsurance pool has begun delivering lower premiums for some consumers in some regions facing higher risk of cyclones, the ACCC’s third insurance monitoring report has found. However, the savings generated by the reinsurance pool have been offset to varying extents by other cost increases affecting insurance markets. These costs include the broader hardening…

18 September , 2024

Consumer Groups Call on NIAA to Strengthen Remote Food Security Strategy

Mandatory code of practice, subsidies for food transportation and increased income support needed A coalition of consumer and indigenous groups is calling on the National Indigenous Australians Agency (NIAA) to better protect vulnerable residents in remote areas. The organisations have welcomed the proposed National Strategy for Food Security in Remote First Nations Communities, but they…

17 September , 2024

Advocates Welcome New Scam Framework, Urge Consumer Safeguards be at the Front and Centre

Consumer Action Law Centre, CHOICE, the Australian Communications Consumer Action Network (ACCAN) and Super Consumers Australia, have welcomed the announcement from the Albanese Government of a consultation on a draft bill starting today, for the proposed Scams Prevention Framework. “I congratulate Assistant Treasurer Stephen Jones and the Albanese Government for pushing ahead with these scam…

13 September , 2024

Collaboration to Support Cash-in-Transit Services Given Interim Authorisation

The ACCC has granted authorisation to allow the Australian Banking Association (ABA), its member banks, Australia Post, retailers, supermarkets and other industry participants to collaborate so they can ensure there is continuity of cash-in-transit services.The ACCC’s authorisation allows the parties to collaborate and prepare for any suspension or disruption of cash-in-transit services.“It is important that…

4 September , 2024

BCCC Releases 2023-2024 Annual Report, Deceased Estates a Focus of Investigation

From the Chair of the Banking Code Compliance Committee: This year we issued three sanctions to three banks for serious and systemic breaches of the Code [relating to deceased estates]. This action underscores our commitment to hold banks accountable for the promises they make under the Code and to respond firmly where we find serious…

29 August , 2024

ASIC Report Reveals “shameful neglect” of Banks to Customers

A new report published today from the Australian Securities and Investments Commission (ASIC) reveals a “shameful neglect of thousands of banking customers who have been scammed through no fault of their own and collectively lost millions of dollars”, says Consumer Action Law Centre CEO, Stephanie Tonkin. The report, Anti-scam practices of banks outside the four major…

21 August , 2024

NSW Government Proposes Nation’s Strictest Disclosure Obligations for Strata Managers

The New South Wales government has introduced groundbreaking legislation that imposes the strictest obligations on strata managers in Australia regarding the disclosure of insurance commissions. This legislative move follows a series of public concerns, including those raised by ABC’s 7:30 Report and ACIL, which earlier this year referred 146 instances of misconduct to regulatory authorities.…