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Following public consultation on ways to improve price transparency and information about products for consumers, the UK government has announced that it will make several changes.
Read More Consumer Price Transparency and Product Information to be Improved in UK
#SaveSorryBusiness
First Nations financial counsellors, advocates and policyholders from the Save Sorry Business Coalition have welcomed the Federal Government’s announcement of an ‘enduring resolution’ for over 13,000 people harmed by Youpla and regulatory failures.
Federal Minister for Indigenous Australians Linda Burney has briefed advocates that the government scheme will include people who were still making payments to ACBF/Youpla on or after 1 August 2015.
Read More First Nations Advocates Welcome Federal Government’s ‘enduring resolution’ for Youpla Policyholders
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The latest data from the Telecommunications Industry Ombudsman (TIO) reveals that consumers and small businesses made 14,671 complaints between October and December 2023, an increase of 13.4 percent compared to the previous quarter, but a 17.9 percent decrease compared to the same time last year.
Read More Complaints to TIO Increased for the Quarter But the Yearly Decrease Trend Continues
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A lack of transparent pricing information caused a poor understanding by consumers of how prices were set. This was significantly worsened by a lack of competition. While market concentration was a major issue, the inquiry found prices in Australia are way higher than in many other less competitive markets.
Large price increases occurred across many sectors.
Read More Supermarkets, airlines and power companies are charging ‘exploitative’ prices despite reaping record profits
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These rules have been developed by the ACMA in response to a direction from the Minister for Communications, the Hon Michelle Rowland MP, to make an enforceable industry standard that will improve safeguards for telco customers experiencing financial difficulties.
The new Telecommunications (Financial Hardship) Industry Standard 2024 requires telcos to establish and promote clearly accessible written financial hardship policies. Telcos must do more to proactively identify customers experiencing financial hardship and prioritise keeping them connected to services.
Read More New Telco Industry Standard to Address “range of financial gaps”
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A coalition of advocacy groups, including Consumer Action Law Centre, CHOICE and the Australian Communications Consumer Action Network, have come out forcefully stating that customer reimbursement, paid for by industry through a customer’s own bank, must be at the centre of the Federal Government’s proposed new scam laws. The advocates say the new laws must be urgently implemented by the end of this year to stop the billions of dollars that are being lost by Australians every year to scammers.
Read More Industry Liability the Clear Path to Scam Reform
TIME for CHANGE
[T]he research commissioned by the Competition Review Taskforce now provides clear evidence in support of merger reform, strengthening the ACCC’s confidence in its recommendations.
The research demonstrates that an estimated 1000-1500 mergers occur in Australia each year. Only about 330 are notified to the ACCC under the existing voluntary merger regime.
About half of the 1000-1500 mergers are made by the largest one per cent of businesses.
Read More ACCC: Urgent Need for Merger Law Reform
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The Australian Communications Consumer Action Network (ACCAN) has now opened its 2024 grants round, below is the overview also provided on ACCAN’s website here. 2024 Grants Round NOW OPEN Submit your application by: Friday 23rd February, 2024, 5pm AEDT. Contact Us: If you are thinking of applying, we encourage you to speak with us in advance.…
Read More ACCAN Open 2024 Grants Round
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ASIC has published a summary document from a 30 November 2023 virtual workshop which focussed on building an understanding of identification verification challenges faced by First Nations consumers, and how industry can apply flexible approaches while meeting legislative requirements.
Read More ASIC Releases Summary for Indigenous Financial Services Framework Workshop
financial counselling australia
After nearly 15 years in the role, Fiona Guthrie is stepping down as CEO of Financial Counselling Australia (FCA), the FCA board has announced.?
Fiona is leaving FCA to take up a new position as the CEO of Way Forward, a not-for-profit organisation that provides free assistance to people in financial hardship.
Read More FCA Announces Departure of CEO and New Appointments
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Consumer advocates call on insurers to act now at flood insurance inquiry
Urgent changes needed to improve claims handling process
A number of consumer advocacy groups – including CHOICE, Financial Rights Legal Centre, Consumer Action Law Centre, and Financial Counselling Australia – will be the first to appear today and tomorrow at a public hearing for the parliamentary inquiry into insurers’ responses to 2022 major floods claims.
Read More Consumer Advocates Call on Insurers to Act Now at Flood Insurance Inquiry
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55% of Australians incorrectly dispose of batteries. Australian B-cycle “Never bin your batteries” aims to help consumers understand the risks of throwing batteries away in regular bins. It emphasises the need to never put used batteries in general waste or recycling bins, to instead tape the terminals with clear sticky tape and take them to…
Read More Safe Battery Disposal
