Financial Counselling Australia (FCA) welcomes the announcement that ANZ has admitted to widespread misconduct and has agreed to pay $240 million in penalties. ANZ has admitted to unconscionable conduct, overstating bond trading data by tens of billions, and widespread misconduct affecting nearly 65,000 customers. The matters will now be considered…
More than 168,000 people reached out for support via the National Debt Helpline (NDH) during the 2024-25 financial year, making it the free service’s biggest year since 2018-19. Coordinator of the NDH Vicki Staff said it shows just how hard cost-of-living pressures are hitting Australians. “Many of life’s essentials are…
The Board of Financial Counselling Australia (FCA) has announced co-CEO, Peter Gartlan, is stepping down effective from 30th September 2025. Peter has worked at FCA since 2020 and became co-CEO in February 2024. “We thank Peter for his leadership, dedication, and the impact he has had on our organisation throughout his…
Consumer advocates have welcomed a commitment from Australian banks to refund more than $93 million to low-income customers after charging excessive fees, but significant gaps in support remain, with one of the big four falling short. ASIC’s second bank-fee report, released today, details banks’ responses to excessive fees charged on…
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.…
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…
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…
Financial counsellors have launched their federal election campaign - When every dollar counts, so does financial counselling – we can’t afford to wait. Financial Counselling Australia (FCA), along with all the state financial counselling associations, is calling for a commitment from all sides of politics to provide increased and…
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…