ASIC action leads to over $1 million refund to consumers
Small loan provider breached cost cap when charging $60 EFT fee
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Regulator news and government inquiries
Higher standards needed for life insurance industry
ASIC review of 200 advice files finds more than a third not compliant in prioritising consumer needs
Read More Higher standards needed for life insurance industry
CBA to return $2.2m in expired travel card funds to consumers
Bank also agrees with ASIC to make changes to travel card policies
Read More CBA to return $2.2m in expired travel card funds to consumers
ACMA investigation highlights consent issues when purchasing email lists
Business loan company pays $10K fine after failing to prove that email owners gave approval
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ASIC and Bank of Queensland reach Storm Financial settlement
Payment brings to an end existing litigation following Storm collapse in 2009
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ASIC review reveals ‘Low doc’ lenders tightening lending practices
Responsible lending laws have made an impact since 2010
Read More ASIC review reveals ‘Low doc’ lenders tightening lending practices
Telco consumer complaints continue to fall
ACMA says third consecutive year of decline in complaints shows industry improving
Read More Telco consumer complaints continue to fall
Invast Financial Services pays $20,400 penalty for misleading representations
ASIC concerned that statements about ‘risk-free’ trading could mislead investors
Read More Invast Financial Services pays $20,400 penalty for misleading representations
ACMA issues strong warnings to telcos on compliance
Providers failed to submit documents outlining compliance measures
Read More ACMA issues strong warnings to telcos on compliance
ASIC warns consumers about First Forex, FiFx and FiFx Global
Dealing with licensed Australian companies best way to avoid scams
Read More ASIC warns consumers about First Forex, FiFx and FiFx Global
Federal Court shoots down payday lender over unconsionable conduct
ASIC calls verdict “essential reading for all credit licensees”
Read More Federal Court shoots down payday lender over unconsionable conduct
Mobil undertakes to not subscribe to petrol price information sharing services
Mobil agrees to that it will not subscribe to the retail petrol price sharing service for the next five years.
Read More Mobil undertakes to not subscribe to petrol price information sharing services