Consumer groups and financial counsellors have said that the Government’s plans for regulation of the buy now, pay later (BNPL) sector announced today will need to include strong requirements for lenders to ensure that loans are safe and suitable regardless of the size of the loan in order to protect…
Financial Counselling Australia (FCA) has welcomed the progress that the Federal Government is making on an industry funding model for the financial counselling sector. This innovative model would see companies from the financial services, energy, telco and gambling sectors contribute money to fund financial counselling services. The funding would be…
Quotes attributable to Bettina Cooper, Boandik woman, Save Sorry Business Coalition coordinator and Aboriginal financial counsellor at Mob Strong Debt Help “It is over 30 years since Youpla started targeting First Nations communities with misleading practices, selling them funeral insurance marketed as a funeral fund. It is over 20 years…
Financial Counselling Australia (FCA) welcomes the announcement by the Government that it will ban the use of credit cards for online gambling. “We should never have to discuss credit cards and gambling in the same sentence ever again,” said Lauren Levin, FCA’s Director of Policy and Campaigns. Financial counsellors see…
Consumer advocates around Australia have welcomed moves by Attorney-General Mark Dreyfus KC MP to reform bankruptcy laws. Last month, consumer advocates attended a Ministerial Roundtable on Personal Insolvency to discuss pressure points in the current system, critical reform areas and longer-term strategic challenges with the Attorney-General and stakeholders. “We strongly…
March 16, 2023 Financial counselling organisations have welcomed the NSW Government’s pledge to double funding for financial counselling services, if re-elected. This would double the NSW Government’s investment in the sector from $9.6 million a year to almost $20 million and will mean around 100 more financial counselling positions and…
MEDIA RELEASE If you’re thinking of a shopping spree on ‘Afterpay Day’ this week, remember that your splurge can easily become a case of Buy Now, Pain Later. A coalition of consumer groups is warning that the national marketing campaign by Afterpay and major retailers can easily lure people into…
MEDIA RELEASE March 10, 2023 Financial Counselling Australia is absolutely delighted that our hugely admired colleague, Lynda Edwards, has been named 2023 NSW Premier’s Woman of the Year. Lynda took out the prestigious award after having won her category, NSW Aboriginal Woman of the Year Award, at a ceremony in…
If you’re feeling overwhelmed by rising interest rates and struggling to make ends meet, you don’t have to suffer alone. That’s the message from the National Debt Helpline (NDH) and Small Business Debt Helpline (SBDH) to people who are being buffeted by rising interest rates and rising costs. The two…
MEDIA RELEASE THURSDAY, FEBRUARY 16, 2023 In submissions released publicly by the Treasury today, major banks, industry associations, regulators and consumer advocates are unified in calling for an end to lending loopholes allowing buy now, pay later providers to avoid safe lending laws. Groups who made submissions calling for the…