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Financial Rights Legal Centre In The Media
Media Release: Banks must offer better value bank accounts to struggling Australians

Consumer groups today welcomed the Australian Banking Association’s (ABA) update to the Banking Code of Practice ensuring improved access to fee-free banking for struggling Australians. The updated Banking Code received authorisation yesterday from the Australian Competition and Consumer Commission (ACCC) and the ABA are now seeking final approval from the Australian Securities and Investment Commission (ASIC). The Banking Royal Commission [ More ]

Media Release: Consumer protections in insurance about to take a much-needed leap forward

The general insurance industry’s new code of practice is a long awaited and necessary advancement, according to the Financial Rights Legal Centre (Financial Rights) and Consumer Action Law Centre (Consumer Action). The new General Insurance Code of Practice—announced today by the Insurance Council of Australia (ICA)—is a set of rules for insurance companies. The new iteration of the code makes [ More ]

Media Release: Total and Permanent Disability Cover – a total mess

The Financial Rights Legal Centre has called on the life insurance sector to clean up its act following the release of a damning report by ASIC into Total and Permanent Disability (TPD) claims in both direct life insurance and life insurance in superannuation. The report, Holes in the safety net: A Review of TPD insurance claims, found that TPD insurance [ More ]

Media release: ASIC intervention in short term credit market applauded

Thursday, 12 September 2019 The Financial Rights Legal Centre (Financial Rights) has welcomed the Australian Securities and Investment Commission’s (ASIC’s) announcement that they will use their Product Intervention Power to address the short-term credit industry. The new product intervention power allows ASIC to intervene where financial and credit products have resulted in or are likely to result in, significant consumer [ More ]

Media release: Government must act to reform mortgage brokers duties, conflicted remuneration

The Financial Rights Legal Centre (Financial Rights) has welcomed the Australian Securities and Investment Commission’s (ASIC’s) consumer research into the mortgage broking sector that provides further evidence that the mortgage broking sector needs reform. The research – Looking for a mortgage: Consumer experiences and expectations in getting a home loan – found that consumers expected brokers to find them the [ More ]