Westpac to refund premiums for unwanted insurance cover
Bank charged customers for loan protection insurance while the customer did not have a active loan
Read More Westpac to refund premiums for unwanted insurance cover
Regulator news and government inquiries
ASIC helps consumers to understand risks of interest-only mortgages
While lenders need to lift their game, people should “do their homework” and investigate options
Read More ASIC helps consumers to understand risks of interest-only mortgages
Government delivers credit card surcharge death blow
CHOICE says the Federal Government’s response to the Financial System Inquiry delivers for consumers.
Read More Government delivers credit card surcharge death blow
ASIC releases a report into book up practices in Indigenous communities
Informal credit practice can see at risk consumers lose control of debit cards
Read More ASIC releases a report into book up practices in Indigenous communities
A weaker ASIC helps no one: consumer groups
Treasury consultation paper doesn’t ensure regulator can protect consumers
Read More A weaker ASIC helps no one: consumer groups
Federal Court finds Fast Access Finance breaches National Credit Act
Payday lending scheme masked as selling of diamonds to avoid credit protections
Read More Federal Court finds Fast Access Finance breaches National Credit Act
ASIC finds the cost of consumer leases can be as high as 884%
“The market for consumer leases is delivering poor outcomes for many consumers”
Read More ASIC finds the cost of consumer leases can be as high as 884%
Consumers can reclaim funds on expired travel money cards following ASIC action
Three groups of card products were found to forfeit leftover money to issuer after expiration
Read More Consumers can reclaim funds on expired travel money cards following ASIC action
New ‘Rent vs Buy’ calculator for consumers on ASIC’s MoneySmart website
Consumers easily able to compare cost of renting versus buying household goods
Read More New ‘Rent vs Buy’ calculator for consumers on ASIC’s MoneySmart website
Insurers to refund $2 million in ‘useless’ payday premiums after ASIC investigation
Just one per cent of premiums paid out as claims to insurance customers
Read More Insurers to refund $2 million in ‘useless’ payday premiums after ASIC investigation
Telco survey suggests some consumers not exercising their right to complain
Up to one-third of consumers will not report a problem to their provider
Read More Telco survey suggests some consumers not exercising their right to complain
Money3 provides over $100,000 in refunds to consumers as ASIC’s payday lending crackdown continues
Watchdog considers high cost loans with one off payments unsuitable for vulnerable borrowers
Read More Money3 provides over $100,000 in refunds to consumers as ASIC’s payday lending crackdown continues