Regulator News

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

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New research from CHOICE has revealed 4 in 5 CHOICE supporters think it’s unfair for supermarkets to charge higher prices for customers who don’t sign up for loyalty programs.  The survey of over 8,000 CHOICE supporters also found nearly half of respondents were worried about the data being collected about them through loyalty programs. The…

Read More Supermarket Loyalty Programs: The Price Isn’t Right

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A rise in reported breaches of the industry Code of Practice indicates better reporting from customer-owned banking institutions but also a sign of the need for improvements in reporting and remediation.  The Annual Data Report from the Customer Owned Banking Code Compliance Committee (COBCCC), which covers the 2022-23 reporting period, shows that the number of customer…

Read More Customer Owned Banks Urged to Continue Improving Reporting Practices

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CHOICE response to announcement Qantas has agreed to pay $120 million to settle ACCCenforcement action. Quotes attributable to Rosie Thomas, Director of Campaigns and Communications at CHOICE: “Qantas agreeing to pay $120 million dollars and admitting it misled consumers after ACCC court action is a significant result. The proposed settlement sends a very clear message…

Read More Compensation for Cancelled Flights Should be the Norm

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ASIC is warning consumers about an increase in the sophistication of fake bond and term deposit scams where scammers are impersonating little-known legitimate financial services businesses, often those without a website or digital footprint. Scammers are mirroring real businesses’ disclosure documents, addresses, International Securities Identification Numbers (ISINs), Australian business numbers (ABNs) and Australian financial services…

Read More Scam Alert Issued by ASIC as Scammers Change Methods

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Researchers from Deakin University and the Victorian University of Wellington are conducting an Australian Communications Consumer Action Network (ACCAN) funded project and are looking for participants. The goal of the project is to understand how ‘communication’ is understood by diverse consumers, with the view to better inform the regulation of digital communications technologies. Participation will…

Read More Consumer Research on Defining Communication

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The Board of the Australian Communications Consumer Action Network (ACCAN) today announced the appointment of Ms Carol Bennett as Chief Executive Officer for the organisation with effect from 8 July 2024. Carol is a highly respected leader with a remarkable track record of delivering positive change for consumers and communities in all her previous CEO…

Read More ACCAN Appoints Carol Bennett as New CEO

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Below is the Centre for Media Transition’s website post on The Enforcement of Telecommunications Consumer Protections and the accompanying media release on the report by the Australian Communications Consumer Action Network (ACCAN). The website posts were released on 3/04/2024 and are available here (https://www.uts.edu.au/research/centre-media-transition/projects-and-research/enforcement-telecommunications-consumer-protections) and here (https://accan.org.au/media-centre/media-releases/2288-uts-enforcement-report). As noted by both the report and ACCAN,…

Read More 13 Years of ACMA Telecommunications Enforcement