Finance Archives - Page 5 of 73 - Consumers' Federation of Australia

8 August , 2024

Over 70% of Consumers Experience Poor Customer Service

CHOICE survey of 6000 consumers reveals many businesses are giving consumers the run-around A new survey of 6000 CHOICE supporters has found that almost 3 in 4 (73%) have experienced poor customer service from a business they dealt with in the preceding year, and 85% believed that customer service provided by businesses is getting worse. …

6 August , 2024

Advocates Continue Call for Reimbursement Policy as Scam Complaints to AFCA go ‘off the charts’

The Australian Financial Complaints Authority (AFCA) received a record number of complaints in 2023-24 after disputes to the ombudsman service increased 9 per cent to more than 105,000 for the year. Complaints about scams, online and personal transaction accounts, credit cards, and personal loans all saw significant increases. Consumer Action Law Centre CEO Stephanie Tonkin…

2 August , 2024

ACCC Issues Draft Determination on Collaboration in Cash-in-transit Industry

The ACCC has issued a draft determination proposing to grant authorisation with conditions to the Australian Banking Association (ABA), its member banks, and other industry participants to facilitate business continuity planning in the cash in transit industry. The ACCC’s draft determination also proposes to allow the parties to implement business continuity measures in the event of, or…

1 August , 2024

ICAN Launches Yarnin’ Energy as Cost of Living Crisis Continues

ICAN’s Yarnin’ Energy project launched earlier this month after receiving funding from the Queensland Department of Energy and Climate’s, Enable Grants Program. ICAN CEO, Aaron Davis, said, “Inflation has seriously impacted household budgets and higher energy costs contribute to the current cost of living crisis. We’re excited to launch our Yarnin’ Energy project, which combines,…

26 July , 2024

New Research Highlights Sorry State of Consumer Experience and Trust with Telcos

New research commissioned by the Telecommunications Industry Ombudsman (TIO) shows more than 75 percent of Australians have experienced some form of vulnerability in the last 12 months. The research, produced via a partnership between the Consumer Policy Research Centre (CPRC) and the TIO unearthed a suite of sobering assessments in relation to the vulnerability of the consumer…

25 July , 2024

Money Yarns, Stronger Futures – Highlighting Challenges and Bold Recommendations

The Consumer Action Law Centre has today released a groundbreaking report titled Money Yarns, Stronger Futures. The report amplifies the voices of First Nations people, sharing their personal experiences to shed light on the significant challenges they face in achieving financial prosperity. Money Yarns, Stronger Futures not only highlights these challenges but also offers bold recommendations for both…

18 July , 2024

Design to Disrupt and Weathering the Storm Awarded the 2024 Consumer Advocacy Award

At the 2024 ACCC National Consumer Congress, the Consumers’ Federation of Australia (CFA) was proud to present our Consumer Advocacy Award for the best consumer advocacy campaign or project of the past year. The nominees this year were all strong contenders: 1. Fair Call, direct regulation for telcos – formed from a coalition of consumer advocates…

16 July , 2024

Banks Victim Shaming Approach ‘immoral’ and Out of Touch with Community Expectations

Banks victim-shaming approach ‘immoral’- Tonkin New polling by Essential Media is unequivocal: the vast majority (75%) of Australians expect banks to keep their money safe from criminal scammers, and if they fail, to return it to their accounts. Australians lost a massive $2.74 billion to scammers in 2023, that’s hundreds of dollars for every household in our country…

15 July , 2024

Joint Call for Action: Addressing Insurance Affordability in Queensland

The Australian Consumers Insurance Lobby Inc, Financial Rights Legal Centre (which operates the national Insurance Law Service), Queensland Consumers Federation, Consumers Federation of Australia, Unit Owners Association of Queensland and Owners Corporation Network are united in calling on the Queensland Government to show leadership in addressing the escalating crisis of insurance affordability. In the face…

4 July , 2024

Australians Expect Super Funds to Work Hard Against Scams and Fraud

Super Consumers Australia welcomes the Financial Service Council’s Scam Mitigation Standard, but more work needed from Federal Government to fight scams in super

2 July , 2024

Consumer Representative – General Insurance Code Governance Committee

The General Insurance Code Governance Committee (CGC) is an independent body that monitors and enforces insurers’ compliance with the General Insurance Code of Practice. The Code covers many aspects of a consumer’s relationship with their insurer, from buying insurance to making a claim, to providing options to those experiencing financial hardship, to the process for…

1 July , 2024

Youpla Support Program Starts Now

BackgroundThe Youpla Group, also called the Aboriginal Community Benefit Fund (ACBF) sold funeral insurancepolicies to Aboriginal and Torres Strait Islander people. These were called Youpla funeral funds.When Youpla collapsed in March 2022, many community members could no longer pay for Sorry Business.From July 2024 the Youpla Support Program will replace the existing Treasury Program.The National…