Financial Counselling Australia has today released its submission to the Barry O’Farrell review of the Interactive Gambling Act. The submission sets out “12 Things that Need to Change” (attached) if Australian consumers are to be adequately protected from the harm associated with gambling. “The current consumer protection regime is manifestly…
The poorest and most vulnerable Australians are paying grossly inflated prices for household goods via “rent-to-buy” or “consumer lease” deals, as shown by a new report from the Australian Securities and Investments Commission (ASIC) released today. The report found that people receiving Centrelink payments are being charged much higher prices than the…
Financial Counselling Australia welcomes the Government’s announcement of its inquiry into the Interactive Gambling Act legislation, but as the terms of reference stand, by focusing on offshore illegal betting, they fail to address the damage that legal online gambling companies are causing. “It is a welcome first step, but the review with…
2nd September 2015 - Financial Counselling Australia welcomes the Government’s announcement today of a review of online betting legislation. If the review is to be meaningful, it needs to have wide Terms of Reference, looking at the activities of legal onshore operators, as well as offshore bookmakers. Financial counsellors, who…
Access to credit provided by online sports betting companies, as well as inadequate mechanisms for limiting losses, is fuelling a dangerous increase in online sports betting and problem gambling according to a report released today by Financial Counselling Australia. Launched by Senator Nick Xenophon, (read his media release here) the report, ‘Duds,…
8th June 2015 - The national peak body for financial counsellors, Financial Counselling Australia, urges the WA Government to reverse funding cuts that will see the closure of ALL state-funded financial counselling services in the Perth metropolitan area. This sudden and shocking decision was notified to financial counselling agencies, funded through…
1st April 2015 - The latest survey of financial counsellors assessing how well banks are dealing with customers in financial hardship, Rank the Banks, has seen improvements across-the-board. The improvements were evident for the big four banks, the smaller banks and GE. “We are really encouraged by the survey results,”…
25th February 2015 - Financial Counselling Australia welcomes today's announcment by the Minister for Agriculture, Barnaby Joyce that funding for the Rural Financial Counselling Service (RFCS) will continue at current levels. A review of the RFCS had recommended an across-the-board reduction in funding of 20%. Recognising the continuing drought and…
9th February 2015 - Key Points The FCA Conference 18th – 20th May, 2015 in Canberra will go ahead. FCA’s funding has been continued until 30th June 2015, but ongoing funding remains uncertain. The financial counselling sector itself has endured a tumultuous and difficult time for well over 12 months, initially due…
27th January 2015 - Financial Counselling Australia has today released its 2013-14 Annual Report. FCA’s Chair, Carmel Franklin, notes that just one issue dominated the year: funding. As we began the year, it was very uncertain as to whether the Government would continue the Commonwealth Financial Counselling Program. We were…