ACCC and ASIC release guide for consumers dealing with debt collectors
Consumer groups encouraged to refer those in need to this comprehensive resource
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Finance
CFA seeks consumer representative to sit on Customer Owned Banking Association’s compliance committee
Applications close on 19 December
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CHOICE applauds Senators working together to save financial advice protections
Upper house majority disallows previous regulation stripping consumers of protection
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CHOICE welcomes NAB’s decision to settle late payment fee class action, calls on other banks to follow
Decision comes after Federal Court ruled against ANZ earlier this year
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Are debt businesses unfairly targeting vulnerable consumers?
Financial counsellors provide free advice about their best course of action – without incentives to sell
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Credit Ombudsman Service appoints new Consumer Director
Former ASIC Senior Manager brings community engagement experience
Read More Credit Ombudsman Service appoints new Consumer Director
Report finds consumer pain from bad financial advice a global problem
CHOICE calls on Senate to delay vote on FoFA until financial inquiry report
Read More Report finds consumer pain from bad financial advice a global problem
ASIC continues crackdown on payday lending avoidance models
Sidestep arrangements netted more charges to consumers than allowed under credit protection laws
Read More ASIC continues crackdown on payday lending avoidance models
ASIC action leads to over $1 million refund to consumers
Small loan provider breached cost cap when charging $60 EFT fee
Read More ASIC action leads to over $1 million refund to consumers
CBA’s response to nearly a decade of financial advice failure was shonky
CHOICE CEO claims consumers expect more from a big 4 bank
Read More CBA’s response to nearly a decade of financial advice failure was shonky
Higher standards needed for life insurance industry
ASIC review of 200 advice files finds more than a third not compliant in prioritising consumer needs
Read More Higher standards needed for life insurance industry
Financial Rights Legal Centre wins grant to develop financial stress web service
Site will generate legal letters for individuals involved in dispute resolution
Read More Financial Rights Legal Centre wins grant to develop financial stress web service