Regulator news and government inquiries

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This is a joint submission made on behalf of:• Consumer Action Law Centre• CHOICE• The Australian Communications Consumer Action Network• Financial Rights Legal Centre• Super Consumers Australia• Financial Counselling Australia• Westjustice• Consumer Credit Legal Service WA Our organisations are pleased to have the opportunity to provide our feedback to the Senate Economics Legislation Committee. We…

Read More Joint Submission Urges Law Reform and Mandatory Industry Action

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CHOICE responds to the Federal Government’s announcement releasing the draft Aviation Customer Rights Charter for public consultation. Quotes attributable to Rosie Thomas, Director of Campaigns at CHOICE:  “CHOICE welcomes the release of a proposed Aviation Customer Rights Charter. The announcement is an important step towards giving consumers clear rights when flights don’t go to plan.”…

Read More Aviation Charter of Rights needs more to take off: CHOICE

Decorative judgement scale and gavel placed on desk in light lawyer office against window Decorative judgement scale and gavel placed on desk in light lawyer office against window

HSBC Bank Australia Limited (HSBC Australia) failed to adequately protect customers scammed out of millions of dollars, according to documents filed by ASIC in the Federal Court today. ASIC alleges HSBC Australia failed to have adequate controls in place to prevent and detect unauthorised payments and failed to comply with its obligations to investigate customer…

Read More Win for Consumers and Advocates as ASIC Sues HSBC Australia, Alleges “widespread and systemic” failings

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Today (5 December) the Parliamentary Joint Committee on Corporations and Financial Services will release its long-awaited report from the inquiry into the Financial Services Regulatory Framework in Relation to Financial Abuse, which commenced in April 2024. Members of the Economic Abuse Reference Group, a national network of over 50 community organisations that work with government…

Read More Community Advocates Welcome Government Report on Financial Abuse

A magnifying glass lays over a financial chart on a clipboard, casting intriguing shadows. A magnifying glass lays over a financial chart on a clipboard, casting intriguing shadows.

Consumers will now have a voice at the table to determine how the NBN can better serve the needs of communities around Australia thanks to a $2.56 million funding grant from the Australian Government to the Australian Communications Consumer Action Network (ACCAN). As the peak communications consumer body, ACCAN’s new funding will allow it to…

Read More Australian Consumers Now Have a Voice at the NBN Table

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Financial Counselling Australia (FCA) has welcomed an ASIC report calling on Australia’s insurers to improve their complaints handling processes.   “We are disappointed but not surprised.?The findings from ASIC’s review of insurance complaints handling mirrors the experience of many financial counsellors supporting their clients through the claims process,” said Vicki Staff, FCA’s insurance expert.   ASIC’s review of…

Read More Review Finds Systemic Failures in Insurers’ Internal Dispute Resolution

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The Banking Code Compliance Committee (BCCC) is developing their priorities for 2025-26 and is inviting interested parties to complete a short survey to share “new or emerging risks, issues or practices that you believe are concerns and causing harm to consumers or leading to poor outcomes”. The survey is open from 2/12/2024 to 7/02/2025 and survey…

Read More Banking Code Compliance Committee 2025-26 Priorities Consultation

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ACCAN has welcomed the transparency of data released this week by the Telecommunications Industry Ombudsman which highlights a small year-on-year jump in complaints as well as the telling figure of 30% of consumers not being able to reach a resolution after it is referred to their telco. ACCAN CEO Carol Bennett said, “consumers rely on…

Read More 30% of Complaints Return Unresolved After Telco Referral

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Consumer groups have welcomed the release of the Final Report of the Standing Committee on Economics’ Inquiry into Insurer’s responses to 2022 Major Floods. The groups have called on the insurance sector and the Insurance Council of Australia to accept all the recommendations and implement changes to their internal processes and the Code of Practice…

Read More Advocates Welcome Flood Inquiry Report, Urge Government to Act Now