This submission describes the cost of living pressures facing people seeking financial counselling support, which is showing up in increasing demand for financial counselling. The rising cost of living has a disproportionate affect on people with the least economic resources. The submission recommends further increases in the rates of JobSeeker and pension payments to prevent poverty, reviewing the supermarket unit pricing code to help people make informed shopping choices, regulation of Buy Now, Pay Later providers and wage advance products under the credit laws, waiving of persistent credit card debts by financial institutions and adequate funding for financial counselling.
Cost of Living
Submission to: Senate Select Committee on the Cost of Living
Related Projects
Regional Banking
Submission to: Regional Banking Taskforce, Treasury
Joint consumer group submission (led by Choice) responding to a consultation on regional banking. The submission recommends that banks commit to a moratorium on branch closures, that in towns with limited or no banking services the banking industry commit to expanding mobile banking and that every town in Australia has at least one fee-free option to withdraw cash. The Taskforce is also encouraged to meet with First Nations communities to understand the particular issues they face.
Joint consumer group submission (led by Choice) responding to a consultation on regional banking. The submission recommends that banks commit to a moratorium on branch closures, that in towns with limited or no banking services the banking industry commit to expanding mobile banking and that every town in Australia has at least one fee-free option to withdraw cash. The Taskforce is also encouraged to meet with First Nations communities to understand the particular issues they face.
Financial Sector Reform Bill 2022 – Schedule 4
Submission to: Senate Economics Legislation Committee
This is a joint submission from the financial counselling sector. The submission includes a number of recent case studies from financial counsellors about the harm clients experience with payday loans and consumer leases. (The financial counselling sector is also part of the joint consumer group submission on this Bill – see other listing).
This is a joint submission from the financial counselling sector. The submission includes a number of recent case studies from financial counsellors about the harm clients experience with payday loans and consumer leases. (The financial counselling sector is also part of the joint consumer group submission on this Bill – see other listing).