Regulator news and government inquiries

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Charities work across multiple sectors, but the Australian Charities Report is of strategic importance as it aggregates charity data (from 51,536 charities) to provide a holistic picture or ‘sector-wide’ view. Cost of living increases impact charities Our [the Australian and Not-for-Profits Commission or ACNC] data shows that cost of living issues had an impact on…

Read More ACNC Releases the 10th Edition of the Australian Charities Report

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New laws regulating Buy Now, Pay Later (BNPL) have been announced today. Consumer groups respond as follows: Quotes attributable to Stephanie Tonkin, CEO of Consumer Action Law Centre “We welcome the Albanese Government’s new laws that regulate Buy Now, Pay Later as credit and introducing consumer protections. “Every day we speak to people in financial…

Read More Consumer Groups Welcome New Credit Regulations for Buy Now, Pay Later

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Australians are being urged to directly seek financial hardship assistance from their bank or lender, as new nationwide research released by ASIC’s Moneysmart sheds light on the state of financial hardship in Australia. The research found that 47% of Australian adults with debt, the equivalent of 5.8 million people, have struggled to make repayments in…

Read More Research Finds Millions Experience Hardship, Yet Many Don’t Ask for Help

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The non-confidential written submissions on the ACCC’s Issues Paper for its Supermarkets Inquiry 2024-25 are now available here. Most of the submissions were from industry organisations and supermarkets. However, there were several consumer focused submissions including one from CFA (which several members signed onto) and individual submissions by the following CFA members: CHOICE, Combined Pensioners…

Read More ACCC Publishes Supermarkets Inquiry Submissions

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CFA is represented on the ASIC Consumer Consultative Panel (CCP) and is seeking a new CFA representative to fulfil this role. The CCP assists ASIC to identify current and emerging consumer issues in the sectors we regulate; provides feedback on proposed regulatory changes; and through an evidence base of practical experience, inform the development and…

Read More Consumer Representative Opportunity: ASIC Consumer Consultative Panel

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The ACCC has granted authorisation with conditions to the Australian Banking Association (ABA), the Customer Owned Banking Association, banks, retailers and other industry participants to allow them to continue developing responses to support the distribution of cash across Australia. This follows concerns expressed by the major supplier of cash-in-transit services in Australia, Armaguard, that the…

Read More Bank Industry to Continue Cash Transit Collaboration

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The industry codes will start with banks, telcos, social media, digital messaging and search advertising services, and will require these groups to have measures in place to prevent, detect, disrupt, respond and report scams.

This will be complemented by strong regulator enforcement action, penalties for non?compliance, and victim compensation where wrongdoing occurs.

Read More Albanese Government to Introduce Mandatory Anti-Scam Industry Codes

Have your say on Centrepay

The Albanese Government has renewed its commitment to Centrepay reform, today announcing a range of short- and long-term priorities to improve the program. Australians who rely on Services Australia’s direct bill paying service Centrepay are encouraged to join advocates, business and other stakeholders to share their views and experiences as part of a nation-wide call…

Read More Community Consultation on Centrepay Reform

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Consumers generate data in almost all aspects of their lives as many activities that were once anonymous are now subject to detailed data collection, such as restaurants that require customers to order via a QR code and input personal details. The latest Digital Platform Services Inquiry report published today, highlights that consumers are generally unaware how much…

Read More Latest ACCC report finds consumers lack visibility and choice over data collection practices

Infographic on the ASIC report. Infographic and text-only version can be found at https://asic.gov.au/about-asic/news-centre/find-a-media-release/2024-releases/24-104mr-asic-report-australians-need-better-hardship-support-from-their-lenders/ Infographic on the ASIC report. Infographic and text-only version can be found at https://asic.gov.au/about-asic/news-centre/find-a-media-release/2024-releases/24-104mr-asic-report-australians-need-better-hardship-support-from-their-lenders/

Some home loan lenders have made accessing financial assistance so difficult that more than one in three (35%) Australians dropped out of the application process at least once, according to a new ASIC report. The report, Hardship, hard to get help: Lenders fall short in financial hardship support (REP 783) outlines findings from ASIC’s review of 10…

Read More ASIC Report Highlights Industry Hardship Failures

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Consumers’ Federation of Australia (CFA) and CHOICE has made a submission to the Productivity Commission about future National Competition Policy reforms. The submission stresses the need to analyse potential policy reforms with a focus on their effects on consumers and households, urging the Commission to prioritise understanding how different groups might be affected. The submission’s…

Read More Productivity Commission National Competition Policy Reforms Submission