The Bankruptcy System and the Impacts of Coronavirus – Discussion Paper
Submission to: Attorney-General’s Department
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.
Modernising the Telecommunications Industry Ombudsman Terms of Reference
Submission to: Telecommunications Industry Ombudsman
FCA’s submission is limited to the consideration of proposed changes to the TIO’s jurisdiction, specifically the inclusion of a new small business definition. Financial counsellors are increasingly assisting small business clients. We support the inclusion of an explicit definition of small business into the terms of reference, based on the number of employees. This is simple to understand and explain. We recommend that the definition be that a small business employs less than 100 employees. This is the definition used by the Australian Financial Complaints Authority (AFCA), the Australian Small Business and Family Enterprise Ombudsman and also reflects the ASIC exemption applying to financial counselling agencies under the Corporations Act.
FCA’s submission is limited to the consideration of proposed changes to the TIO’s jurisdiction, specifically the inclusion of a new small business definition. Financial counsellors are increasingly assisting small business clients. We support the inclusion of an explicit definition of small business into the terms of reference, based on the number of employees. This is simple to understand and explain. We recommend that the definition be that a small business employs less than 100 employees. This is the definition used by the Australian Financial Complaints Authority (AFCA), the Australian Small Business and Family Enterprise Ombudsman and also reflects the ASIC exemption applying to financial counselling agencies under the Corporations Act.