Please ensure Javascript is enabled for purposes of website accessibility

Consumer advocates welcome revised Banking Code of Practice with incremental improvements noted

No ratings yet. 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 […]

Noble Oak has strongest family violence policy – desktop audit finds

No ratings yet. Noble Oak has the strongest family violence policy in the life insurance industry. This was the finding of a desktop audit undertaken to evaluate the family violence policies of the 15 subscribers to the Life Insurance Code of Practice required to have a family violence policy. The 2023 Life Insurance Code of […]

Advocates welcome continued ban on use of Centrepay by business operating in remote Australia, and call for broader Centrepay reform

First Nations and other consumer advocates have welcomed the extension of ASIC’s interim Stop Order on Coral Coast Distributors (Cairns) Ptd Ltd trading as Urban Rampage (Urban Rampage) retail stores, where customers enter agreements to pay for goods on credit through Centrepay deductions. The original stop order was imposed because ASIC received complaints about Urban […]

Consumer groups welcome step towards treating Buy Now, Pay Later as credit

Photo of bills

Regulation of Buy Now, Pay Later a step closer, but concerns remain over details Consumer groups respond to draft Buy Now, Pay Later legislation (BNPL) released today. Quotes attributable to Karen Cox, CEO of Financial Rights Legal Centre “ Today is a positive day for Australian consumers with the Government proposing draft legislation to treat […]

Media Release: First Nations advocates welcome Federal Government announcement for Youpla policyholders

No ratings yet. First Nations financial counsellors, advocates and policyholders from the Save Sorry Business Coalition have welcomed the Federal Government’s announcement of an ‘enduring resolution’ for over 13,000 people harmed by Youpla and regulatory failures. Federal Minister for Indigenous Australians Linda Burney has briefed advocates that the government scheme will include people who were […]

Save Sorry Business Coalition Media Statement: Latest extension of Youpla Interim Scheme must pave way for culturally appropriate scheme covering Centrepay victims

First Nations consumer advocates from the Save Sorry Business Coalition have greeted the announcement that the Federal Government will extend its Interim Youpla Scheme with a renewed call for the urgent establishment of a fair and culturally appropriate resolution for First Nations people. Advocates recognise that this extension of the scheme until 30 June 2024 […]

Media Release: Lenders must rise to the occasion and support Australians currently doing it tough due to the cost of living crisis

  Financial Rights Legal Centre has welcomed ASIC’s open letter to 30 of Australia’s largest lenders calling on them to appropriately support customers experiencing financial hardship. Financial Rights – which helps run the National Debt Helpline in NSW – has seen an increase in callers to our service facing financial hardship. The National Debt Helpline […]

Media Release: Insurers must learn from claims handling failures and lift their game

Financial Rights Legal Centre has called on the general insurance industry to commit to radically improving customer communications. Clear and consistent policies, particularly around ‘wear and tear’ exclusions, also need urgent industry-wide attention. Financial Rights’ call for change is in response to the release of Report 768 Navigating the storm: ASIC’s review of home insurance […]