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Joint media release: Third insurer sanctioned in 12 months

Consumer advocates have condemned repeated failings by insurance companies after the General Insurance Code Governance Committee (CGC) imposed sanctions on AIG Australia Limited (AIGAL) for serious breaches of the General Insurance Code of Practice. This is the third financial sanction in 12 months imposed by the CGC on an insurer.…

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Record penalty against Optus sends clear message to telco sector

Financial Counselling Australia welcomes the $100 million record penalty against Optus for unconscionable conduct. The penalty sends a strong message to the telecommunications industry: mis-selling to vulnerable customers will not be tolerated. For some time, financial counsellors have been raising the alarm about the harm caused by Optus’ mis-selling products…

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Financial counsellors welcome increase to national minimum wage

Financial Counselling Australia welcomes the Fair Work Commission’s decision to increase the national minimum wage by 3.5% to $24.95 per hour. FCA co-CEO Peter Gartlan says financial counsellors regularly hear from workers who are struggling to cover basic living expenses. Since the start of the year, there have been more…

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Financial counselling support for those facing financial hardship in the aftermath of Cyclone Alfred

Financial Counselling Australia (FCA) is reminding those who may be impacted by Cyclone Alfred, there is free financial counselling available. “Weather disasters can lead to unexpected financial problems, and some may find themselves in financial hardship,” said Louise Hayes, FCA’s National Coordinator of Disaster Recovery. “It’s important to know there…

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Big increase in people reaching out to the NDH

There’s been a significant increase in the number of people reaching out to the National Debt Helpline (NDH) over the past year. During 2024 more than 169,000 people called in or used the online chat tool to seek help from financial counsellors - a 12% increase on 2023. Total visits…

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FCA welcomes report on financial abuse: now is the time for action.

Financial Counselling Australia (FCA) has welcomed the tabling of a parliamentary inquiry report into financial abuse and Australia's financial services regulatory framework. “It's a pivotal report and reflects so many of the measures that people affected by financial abuse, along with advocates, have been calling for over the last decade,”…

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Time for insurers to treat customer complaints properly

Financial Counselling Australia (FCA) has welcomed an ASIC report calling on Australia’s insurers to improve their complaints handling processes.   “We are disappointed but not surprised. The findings from ASIC’s review of insurance complaints handling mirrors the experience of many financial counsellors supporting their clients through the claims process,” said Vicki Staff,…

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