Consumer Credit Legal Service (WA), CHOICE, Consumer Action Law Centre, Financial Counselling Australia, Financial Rights Legal Centre and Super Consumers Australia have today published policy submissions that respond to 22 of the Royal Commission’s 76 recommendations. Full consumer group submissions available on Dropbox here: https://shwca.se/BankRCSubsMar2020 After the shocking scandals of the Royal Commission, consumer groups are supportive of the Treasurer [ More ]
Collectively, our services assist thousands of Australians subjected to poor bank and insurer behaviour every year. However we are only ever able to serve a fraction of the demand. Free and independent legal assistance for people experiencing financial hardship, stress and other difficulties has been crucial to expose and subsequently address the wrongdoing found during the Banking Royal Commission. Commissioner [ More ]
Today the Government passed the first omnibus bill in the wake of the Banking Royal Commission, which consumer advocates say will help address long-standing problems with unfair insurance contracts, funeral expenses policies and mortgage broking. The Financial Sector Reform (Hayne Royal Commission Response—Protecting Consumers (2019 Measures) Act 2019 will address recommendations 4.7, 1.2 and 4.2 from the Final Report of [ More ]
Tomorrow marks one year since the Government released Commissioner Kenneth Hayne’s Banking Royal Commission Final Report. The Government has taken big steps towards cleaning up the finance sector, but consumer advocates stress the danger of industry continuing to push back against much needed reforms. Consumer Advocates say that Hayne’s vision needs to be fully implemented without watering down by industry in order to improve the lives of Australians and our communities. The finance industry is showing some promising signs [ More ]
As significant numbers of insurance claims loom in the wake of Australia’s bushfire crisis, consumer groups today called on the Federal Government to urgently regulate insurance claims management services. Insurance claims management services are for-profit businesses that sign up policyholders and, for a fee, undertake the administrative work on an insurance claim. Claims management services typically work for a percentage [ More ]
