Financial Rights has in its work with people experiencing financial hardship identified both misconduct and conduct, practices, behaviours and business activities that fall below community standards and expectations. From the design of low value products and bad sales and marketing practices to poor customer service standards and claims handling, we have seen a vast array of poor conduct across the life cycle of a consumer’s relationship with a financial services provider.
We have grouped together the worst of the practices we’ve seen and divided them into those that can be considered misconduct (illegal or otherwise) and those practices that fall below community standards and expectations. The areas we address are: (1) Problematic sales and marketing practices; (2) Conduct undermining financial hardship provisions; (3) Fee charging practices (4) Poor Customer service standards and practices (5) The development and design of poor value financial products
