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
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 […]
Broken insurance market failing to protect people in climate crisis: New report
Urgent government action needed to make home and contents insurance accessible and affordable New research from a coalition of advocacy groups has found the home and contents insurance market is failing to protect people against extreme weather events, with customers struggling to access and afford the insurance they need. The report, commissioned by CHOICE, Climate […]
“Buy now, pay later loans need to be subject to strong safe lending tests to protect people from harm”: Consumer groups respond to BNPL reform announcement
No ratings yet. Consumer groups and financial counsellors have said that the Government’s plans for regulation of the buy now, pay later (BNPL) sector announced today will need to include strong requirements for lenders to ensure that loans are safe and suitable regardless of the size of the loan in order to protect people from […]
Media Release: New liquidator data reveals more than 100,000 people paid over $174 million to predatory insurer Youpla/ACBF
First Nations advocates renew call for urgent action in May Federal Budget The liquidators of predatory funeral insurer Youpla/ACBF, SV Partners, have released shocking new data that reveals for the first time the full extent of First Nations exploitation perpetrated by the company over three decades. The new figures reveal that over $174 million was […]
Advocates And Industry Agree: Time To Close Lending Loopholes On Buy Now, Pay Later
No ratings yet. Key stakeholders call for buy now, pay later should be regulated as meantime credit In submissions released publicly by the Treasury today, major banks, industry associations, regulators and consumer advocates are unified in calling for an end to lending loopholes allowing buy now, pay later providers to avoid safe lending laws. Groups […]
