Financial counsellors from across the country are dismayed that the Federal Government is pushing ahead with its plan to axe safe lending laws. This week the Government introduced a bill that amends the National Consumer Credit Protection Act 2009. If passed, it will remove responsible lending obligations for lenders, with…
Financial counsellors around Australia welcome today’s announcement by the ACCC that Telstra and the ACCC will be asking the Federal Court to impose a penalty of $50 million on the telco. The penalty relates to unconscionable conduct in its’ dealings with 108 Indigenous customers. Telstra has admitted it breached consumer law…
Financial Counselling Australia has welcomed the Federal Government’s response to last year’s review of the coordination and funding for financial counselling services across Australia. The review, called the Countervailing Power: Review of the coordination and funding for financial counselling services across Australia, made a series of recommendations to ensure the…
Axing safe lending laws will be bad for people, bad for the economy and directly contradict the first recommendation of the banking royal commission, say leading voices across Australia Speaking with one voice, Australia’s leading consumer advocacy organisations, charities, community, legal and family violence organisations, unions and financial counsellors have…
Financial counsellors from across the country are warning of a looming debt disaster if the Federal Government proceeds with plans to axe safe lending laws. Financial Counselling Australia and the state and territory financial counselling associations have made a joint submission to The Treasury about proposed changes to the National…
Consumer groups* have strongly welcomed the introduction of a Bill today in Parliament to prevent hard-sell tactics for insurance and other financial products. The Bill introduces some of the 76 long-awaited reforms to strengthen Australian’s consumers rights recommended by the Banking Royal Commission. “These reforms target hard-sell tactics for insurance after heart-wrenching stories were uncovered by the Banking Royal Commission,” said Gerard Brody, CEO of…
Financial Counselling Australia has joined Anti-Poverty Week, Sunday 11 – Saturday 17 October 2020, to highlight the devastating impacts of poverty in Australia and the importance of implementing lasting solutions. Financial counsellors believe the most effective way to alleviate poverty is for the JobSeeker payment to be increased. “JobSeeker needs…
Financial Counselling Australia has welcomed two key announcements made last night as part of the Federal Budget. The first measure will secure the ongoing pay of financial counsellors employed by a number of financial counselling agencies and other community organisations. The Government will provide $132.6 million over three years to…
MEDIA STATEMENT FRIDAY 25 SEPTEMBER 2020 Consumer groups slam move to remove responsible lending laws Removing credit protections will cause harm to people and the economy CHOICE, Consumer Action Law Centre, Financial Counselling Australia and Financial Rights Legal Centre have responded to the Government’s announcement that it will remove…
Media Release 16 September, 2020 Consumer groups welcome South Australian crackdown on predatory lenders Consumer groups have applauded the South Australian government’s plans to crackdown on payday lenders and consumer lease providers. The government’s proposed laws would introduce important consumer protections to help combat these high cost predatory lenders. “Taking this step during the COVID crisis is the…