Articles Archives - Page 16 of 179 - Consumers' Federation of Australia

15 May , 2024

Senate Supermarket Inquiry Recommends Grocery Price Transparency

The 14 recommendations of a Senate Select Committee inquiry into supermarket prices included several aimed at increasing the transparency of retail grocery prices for consumers. These recommendations included (in Recommendation 9 ) that: The Australian Government amend the Unit Pricing Code made under the Competition and Consumer Act 2010, so that supermarkets are required to:…

15 May , 2024

Free and accessible Artificial Intelligence course

The free ‘Introduction to Artificial Intelligence’ course provided by CSIRO National AI Centre (NAIC) will cover what AI is, common terminologies, real-world applications of AI, Australian AI case studies, advice from industry experts to start your career in AI, and more. The two-and-a-half-hour course provides a non-technical introduction to AI fundamentals and is designed for…

13 May , 2024

Financial Abuse Inquiry – 1 month left for written submissions

The Parliamentary Joint Committee on Corporations and Financial Services commenced an inquiry into the systems and regulatory framework relating to financial abuse at the start of April 2024. The period for written submissions is now half-way through and will officially end on 14 June 2024. Submissions can be made publicly but the committee is also…

8 May , 2024

Supermarket Loyalty Programs: The Price Isn’t Right

New research from CHOICE has revealed 4 in 5 CHOICE supporters think it’s unfair for supermarkets to charge higher prices for customers who don’t sign up for loyalty programs. The survey of over 8,000 CHOICE supporters also found nearly half of respondents were worried about the data being collected about them through loyalty programs. The…

8 May , 2024

Customer Owned Banks Urged to Continue Improving Reporting Practices

A rise in reported breaches of the industry Code of Practice indicates better reporting from customer-owned banking institutions but also a sign of the need for improvements in reporting and remediation. The Annual Data Report from the Customer Owned Banking Code Compliance Committee (COBCCC), which covers the 2022-23 reporting period, shows that the number of customer…

8 May , 2024

New Toppling Furniture Laws Introduced

Furniture suppliers will be required to provide safety warnings to consumers about the dangers of toppling furniture hazards, after the Assistant Treasurer, the Hon. Stephen Jones, made a new information standard for toppling furniture. Since 2000, 28 people, including 17 children under five, have died in Australia from toppling furniture, and each year more than 900…

7 May , 2024

Insurers Continue to Struggle Meeting Claims Timeframes

The general insurance industry continues to struggle meeting claims handling timeframes according to the latest report from the General Insurance Code Governance Committee (CGC). The Annual Data and Compliance Report, published today, highlights more than 45,000 claims handling breaches of the industry Code of Practice in the 2022-23 reporting period, an increase of 16%. Chair…

7 May , 2024

Financial Rights Publishes Report on Best Practice in Life Insurer Family Violence Policies

The 2023 Life Insurance Code of Practice (the Life Insurance Code) introduced a requirement for insurers to have family violence policies available online for their customers. For many life insurers this will be the first publicly available written policy indicating how they will support customers experiencing family violence. Family violence – in the form of…

7 May , 2024

US Consumer Protection Body Publishes Research Finding Higher Price Complexity Leads to Consumers Paying More

The United States of America’s Consumer Financial Protection Bureau (CFPB) has published a new report, Price Complexity in Laboratory Markets, which indicates that complex pricings, or costs separated into various sub-prices, are typically more expensive and harder to compare – leading to consumers paying more. Based on the CFPB’s previous research, this increased complexity and…

6 May , 2024

Compensation for Cancelled Flights Should be the Norm

CHOICE response to announcement Qantas has agreed to pay $120 million to settle ACCCenforcement action. Quotes attributable to Rosie Thomas, Director of Campaigns and Communications at CHOICE: “Qantas agreeing to pay $120 million dollars and admitting it misled consumers after ACCC court action is a significant result. The proposed settlement sends a very clear message…

3 May , 2024

Scam Alert Issued by ASIC as Scammers Change Methods

ASIC is warning consumers about an increase in the sophistication of fake bond and term deposit scams where scammers are impersonating little-known legitimate financial services businesses, often those without a website or digital footprint. Scammers are mirroring real businesses’ disclosure documents, addresses, International Securities Identification Numbers (ISINs), Australian business numbers (ABNs) and Australian financial services…

1 May , 2024

ASIC to Consumers: Hang up on super cold callers

ASIC urges you to hang up on cold callers and scroll past social media click bait offering to help you compare and switch super funds. How super cold calling works Cold callers often use high pressure sales tactics to convince you to buy a product or sign up to a service. Their tactics include making…