Articles Archives - Page 46 of 179 - Consumers' Federation of Australia

28 September , 2022

New protections for Victorian water customers

The state’s economic regulator today released updated water industry standards, strengthening support and protections for Victorian consumers, particularly those facing financial difficulties. This is a media release from the Essential Services Commission. It was originally published on 27th September, 2022. The Essential Services Commission’s water industry standards set out the minimum service requirements water businesses must meet, covering…

28 September , 2022

People should get their money back quicker and more easily following new ASIC guidance, say consumer advocates

The Australian Securities and Investment Commission (ASIC) has today published updated and revised remediation guidance for financial firms with the goal of treating wronged customers fairer and ensuring they repay losses companies have caused in a timelier fashion. This is a media release from Consumer Action Law Centre (CALC). It was originally published on 27th September, 2022. Consumer Action…

9 September , 2022

Circular economy – what does it mean to me?

We have traditionally taken a linear approach to products: we take, make, and discard. When a new phone is released, we simply dispose of the old one. We’re depleting a finite quantity of resources and degrading our planet in the process. We are crossing planetary boundaries, putting our own existence and wellbeing in jeopardy. This…

9 September , 2022

ASIC’s binary options ban extended until 2031

ASIC has extended its product intervention order banning the issue and distribution of binary options to retail clients until 1 October 2031. Since it came into effect on 3 May 2021, ASIC’s ban has been fully effective in preventing retail clients from losing money trading binary options in Australia. ASIC’s extension of the product intervention…

5 September , 2022

Australians make submissions on proposed NZ grocery unit pricing system

Following its decision to require grocery retailers to provide consumers with unit pricing (pricing per unit of measure), the NZ government recently released a wide ranging Discussion Paper seeking views on many aspects of unit pricing, including system design, scope and implementation, prior to releasing draft legislation. It is now considering submissions received. The system…

5 September , 2022

ASIC review finds room for improvement remains with life insurance claims handling

ASIC’s review of nearly 4800 individual disability income insurance (IDII) claims received between 1 January and 30 June 2021 has found more work is needed by insurers to ensure that consumers are protected from unfair practices in non-disclosure investigations and physical surveillances. As a result of ASIC’s review, some life insurers have made improvements to…

5 September , 2022

Insurance in a Changing Climate – Event summary

The Insurance in a Changing Climate forum was held in Melbourne on 26 July 2022, with over 70 people attending from a range of sectors including financial counselling, consumer law, academia, government and industry. The event was hosted by Financial Counselling Victoria, the Brotherhood of St Laurence and the Melbourne Institute. Through three panel discussions, the forum…

25 August , 2022

Button batteries – draft standard open for public comment

Button batteries, also known as coin batteries, are used to charge devices that have a longer shelf-life, like a watch or the key to your car. They’re small, flat, and round. Button batteries can lead to serious internal burns in as little as two hours. If you have young kids and you haven’t heard of button batteries, they need…

25 August , 2022

Almost two in three Australians concerned about cost of home insurance

For the second quarter in a row, record numbers of people are very concerned about the cost of home insurance, according to new data from CHOICE. The nationally representative survey, conducted in June 2022, found that 64% of Australians were very concerned or quite concerned about the cost of home insurance. This is a media release from CHOICE.…

22 August , 2022

Consumer empowerment must be central to Electric Vehicle Smart Charging

The Consumers’ Federation of Australia has made a submission to the Energy Security Board in response to its Issues Paper. CFA supports two representatives who participate in the Standards Committee, EM-001 Electric Vehicle Operation. The submission has been developed with the support of these expert consumer representatives and focuses on the questions in the Issues Paper related to…

22 August , 2022

Red alert for dangerous infant mattresses

The following is a piece by Dr Ron Somers (PhD) former external senior lecturer in public health at the University of Adelaide, former director of epidemiology at SA Health, and a long-time GP practice manager. Ron is also the CFA Standards Representative on two Standards Australia Technical Committees. Australian consumers need to exercise caution over the coming…

12 August , 2022

ASIC’s surveillance of internal dispute resolution in superannuation identifies concerns

Superannuation trustees are being urged to review their internal dispute resolution (IDR) arrangements after the first stage of an ASIC surveillance found indicators of significant compliance issues. This is a media release from the Australian Securities & Investments Commission (ASIC). It was originally published on 10th August, 2022. ASIC’s surveillance examines trustees’ compliance with the new enforceable requirements…