Joint submission (led by Consumer Action) about proposed changes to AFCA’s rules. Amongst other things, the submission supports expanding AFCA’s rules to exclude paid representatives that do not act in a consumer’s best interest, increasing potential payments for non-financial loss and allowing AFCA to consider complaints where there has been a full and final settlement if the financial services firm acted unfairly. The submission also makes recommendations about the circumstances in which a complainant may be excluded.
AFCA rules op guideAFCA Rules and Operational Guidelines
Submission to: AFCA
Related Projects
Consultation Paper – Use of credit cards for gambling transactions
Submission to: Australian Banking Association
This submission is in response the Australian Banking Association’s (ABA) Consultation Paper: Use of credit cards for gambling transactions (Consultation Paper).
This submission is in response the Australian Banking Association’s (ABA) Consultation Paper: Use of credit cards for gambling transactions (Consultation Paper).
Financial Abuse
Submission to: Parliamentary Joint Committee on Corporations and Financial Services
Submission on financial services regulatory framework in relation to financial abuse. Drawing on the stories and insights from financial counsellors the submission highlights some key areas in which the financial systems are not working for victim survivors of financial abuse. Our recommendations include a consistent approach be adopted across the financial services so that there is a minimum standard or obligation of assistance. A central repository for key data points from financial services about financial abuse that is shared with key stakeholders. More friction in the digital process and organisations building in more robust verification process into a person’s identity independently when making an application for debt.
Submission on financial services regulatory framework in relation to financial abuse. Drawing on the stories and insights from financial counsellors the submission highlights some key areas in which the financial systems are not working for victim survivors of financial abuse. Our recommendations include a consistent approach be adopted across the financial services so that there is a minimum standard or obligation of assistance. A central repository for key data points from financial services about financial abuse that is shared with key stakeholders. More friction in the digital process and organisations building in more robust verification process into a person’s identity independently when making an application for debt.