Consumer groups welcome BNPL Regulations but sound the alarm over last-minute fee increase
Leading consumer groups have sounded the alarm over a last-minute increase to certain fees under the Federal Government’s proposal to regulate Buy Now Pay Later (BNPL). The BNPL Draft Regulations 2025 will see the introduction of long-overdue consumer protections which will make the products safer. However, a last-minute change to the regulations allows certain BNPL […]
Consumer groups welcome commitment to reducing remote grocery prices
Consumer advocates respond to today’s announcement that the Albanese government will lock remote grocery prices to city prices. Quotes attributable to Lynda Edwards, Director of First Nations Policy at Financial Counselling Australia: “Financial counsellors and capability workers welcome this initiative. It recognises the fact that First Nations people are paying far too much for essential grocery […]
Advocates welcome findings of government inquiry into financial abuse
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 […]
Consumer groups welcome passing of buy now, pay later regulations
Consumer groups have welcomed the passing of the Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Bill 2024 (BNPL Bill) through the Senate last night and all of Parliament this morning. The BNPL Bill will bring buy now, pay later services within the national credit laws, so that most consumer protections that apply to other […]
Consumer advocates welcome proposed reforms to Government payment service
The Financial Rights Legal Centre, Mob Strong Debt Help, and Consumer Action Law Centre welcome the proposed reforms to Centrepay announced by Minister Bill Shorten this morning. These reforms include important consumer protections that consumer advocates across the country have been calling for. Centrepay is an invaluable service for social security recipients, but consumer advocates […]
Strata debt recovery reforms fall short
Anyone expecting genuine improvement to notorious strata debt collection practices will be disappointed in the amendments to the Strata Schemes Management Act introduced to NSW parliament today, says the Financial Rights Legal Centre. “Once again, the needs of people struggling to pay their strata levies have come second to aggressive debt collection – a problem […]
Government’s Scams Prevention Framework only goes halfway – we need a presumption of reimbursement say consumer advocates
A broad coalition of consumer advocates is calling for the Albanese Government to make one fundamental change to the proposed Scams Prevention Framework (SPF) and put reimbursement at its core, warning that without this improvement the SPF is not going to work for the tens of thousands of Australia’s robbed by scammers. The group’s call […]
Consumer Groups Demand Government-Directed Inquiry into Strata Management Industry
A coalition of leading consumer advocacy associations has today called on Federal Treasurer, Hon Dr Jim Chalmers MP to initiate a government-directed public inquiry, led by the Australian Competition & Consumer Commission or the Productivity Commission, into the strata management industry. The coalition cites systemic harmful practices within the industry that compromise consumer rights and […]
Consumer advocates welcome revised Banking Code of Practice with incremental improvements noted
Consumer advocates are welcoming the revised Banking Code of Practice (the Banking Code) announced today which includes some incremental improvements to consumer protections. Consumer Action Law Centre CEO Stephanie Tonkin said the Hayne Royal Commission exposed the massive harms that unregulated banking activity and other poor banking practices can lead to for ordinary Australians, but […]
Consumer groups welcome new laws regulating Buy Now, Pay Later as credit but some concerns remain
New laws regulating Buy Now, Pay Later (BNPL) have been announced today. Consumer groups respond as follows: Quotes attributable to Alexandra Kelly, Director of Casework of Financial Rights Legal Centre “Today is a great day for Australian consumers with the Government introducing legislation to at long last treat Buy Now, Pay Later as what it […]