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…
Media Release 1 September, 2020 Beyond Blue and Financial Counselling Australia (FCA) are encouraging people to access free support services to cope with the economic impacts of the coronavirus pandemic. The organisations have launched the Money on Your Mind campaign to support people experiencing financial stress and mental health issues.…
Media Release 29th July 2020 Financial Counselling Australia (FCA) has today apologised for some inaccurate information in its’ latest Rank the Banks (and other creditors) report. In some of the tables we incorrectly included the total number of financial counsellors who responded to the question, but these included people who…
Media Release 29 July, 2020 Consumer groups have welcomed a crackdown on debt vultures by National Australia Bank (NAB). In a statement today, NAB says it will no longer deal with unlicensed debt management providers. Consumer organisations commonly describe these businesses as “debt vultures” because of the harm they cause. Debt…
Consumer groups are extremely disappointed in ASIC’s decision not to appeal the Full Federal Court’s decision in the Westpac case to the High Court of Australia.[1] The Financial Rights Legal Centre (Financial Rights), Consumer Action Law Centre (Consumer Action), CHOICE and Financial Counselling Australia (FCA) had supported the view,…