Media Release: ‘A Matter Of Urgency’: Community Sector Calls On Senate To Pass The Financial Sector Reform Bill Now
Community organisations that are part of the Stop the Debt Trap Alliance are urging the Senate not to further delay the Financial Sector Reform (FSR) Bill. The Bill needs to be passed as a matter of urgency in the remaining Parliamentary sitting days of 2022. Anglicare Australia, Consumer Action Law Centre, CHOICE, Financial Rights Legal […]
Media Release: Buy Now Pay Later Changes Must Go All The Way, Consumer Groups Say
Buy now pay later (BNPL) products must be fully regulated as credit to protect consumers and put all credit providers on a level playing field, a coalition of consumer groups has said. The group, including CHOICE, financial counselling associations and consumer legal centres, has made the call as Treasury releases a consultation paper setting out […]
Media Release: Let’s Pass The Finance Sector Reform Bill: The Stop The Debt Alliance Strongly Endorses Senate Committee Recommendation
The Stop the Debt Trap Alliance, a coalition of dozens of consume advocacy organisations from around Australia, including financial experts, community advocates and service providers has strongly endorsed a recommendation from the Senate Economics Legislation Committee that the Finance Sector Reform Bill 2022 (FSR Bill) be passed and called on it to happen as a matter of […]
Media Release: Harvey-Norman And Latitude Case Alleging Misleading ‘Interest-Free’ Credit Card Promotions Welcomed By Consumer Advocates
Consumer Action, Financial Rights Legal Centre and CHOICE have welcomed the Australian Securities and Investments Commission’s (ASIC) commencing legal action against Latitude Finance Australia and Harvey Norman Holdings for misleading interest free advertising in relation to credit cards promoted in Harvey Norman stores. Community lawyers and financial counsellors have assisted many clients struggling to pay […]
Media Release: Consumer And Social Service Groups Welcome Community Consultation On Removing Buy-Now-Pay-Later And Other Credit Loopholes
Key consumer and social service groups are welcoming the Federal Government’s announcement that the process of introducing better safeguards for buy now pay later (BNPL) and other credit products has now begun. This morning the Assistant Treasurer and Minister for Financial Services, Stephen Jones, has told participants at a conference that the consultation process has […]
Media Release: Government’s Commitment To Regulate Buy Now Pay Later Products Welcomed
Key consumer and community groups are welcoming comments by the new Minister for Financial Services, Stephen Jones, that the Government will move to regulate buy now pay later (BNPL). Minister Jones made the comments in The Guardian, saying, “let’s start working on regulating [them] within the credit space.” Financial Counselling Australia (FCA), CHOICE, Anglicare Australia, […]
Insurers are failing consumers with shoddy data practices
The insurance industry could be relying on erroneous or misleading information concerning consumers and their claims history when quoting, assessing new claims or setting premiums, a damning report commissioned by Financial Rights has found. The report Privacy Practices in General Insurance by Roger Clarke and Nigel Waters examined the data access and handling practices of […]
Financial Rights welcomes Australian Government’s funding commitment for the Insurance Law Service
The Financial Rights Legal Centre welcomes the Australian Government’s 2022-2023 Budget commitment of $2.5 million over two years for the centre’s Insurance Law Service. Financial Rights Legal Centre Chief Executive Officer Karen Cox said the funding came at a critical time as without it the Insurance Law Service would struggle to remain viable. “This funding […]
Media release: Aboriginal Community Benefit Fund Pty Ltd No. 2 Pty Ltd (Youpla) in liquidation
Aboriginal and Torres Strait Islander people who have funeral insurance policies with Aboriginal Community Benefit Fund No. 2 Pty Ltd should contact Mob Strong Debt Help on Facebook and our webpage. More than 3,400 of Aboriginal and Torres Strait Islander people have lost their funeral insurance policies after it was announced that Aboriginal Community Benefit […]
Time to finally end the harm done by Cigno loans
Consumer groups and financial counsellors are urging the Australian Securities and Investments Commission (ASIC) to act now to put an end to the use of harmful lending models used to charge excessive fees on top of short-term loans.