Financial Counselling Australia (FCA) has called on the Australian Government to strengthen access to financial counselling services to deal with rising demand, longer wait times and a growing complexity of cases. FCA has lodged a detailed submission seeking $19.85 million per year in targeted and sustainable Commonwealth investment. The increase in…
Financial Counselling Australia (FCA) is warning communities across South East Queensland to be on high alert for so-called “disaster chasers”. Insurers have told FCA there is an increase in reports of disaster chasers in recent months following the November storm. Disaster chasers are often dodgy, opportunistic operators who appear after…
Financial Counselling Australia (FCA) has today called for urgent reforms to Australia’s debt enforcement system after releasing its landmark report, “Who’s Making Australians Bankrupt? A follow-up report: six years on”. The original “Who’s making Australians bankrupt?” report was published in 2019. Since then, much has changed, including FCA’s ability to capture and analyse data. We…
With the festive season approaching and cost-of-living pressures continuing to affect households across the country, Beyond Blue and Financial Counselling Australia have launched a new free resource to help people manage their finances and look after their mental health. The Money and Mental Health Toolkit includes practical tips for managing…
Financial Counselling Australia (FCA) is deeply concerned by reports the Albanese Government is preparing to abandon a total ban on online gambling advertising. FCA CEO, Dr Domenique Meyrick, said it was disappointing to see the voices of people harmed by gambling overshadowed by industry pressure. “Every day, financial counsellors speak with people…
Financial Counselling Australia (FCA) welcomes the Australian Taxation Office’s (ATO) new Vulnerability Framework as an important first step towards fairer treatment of people in financial difficulty but says the real test will be how it’s implemented. “The ATO’s Vulnerability Framework is an important step towards a fairer and more compassionate tax system.…
A new set of nationally endorsed Principles of Good Hardship Practice has been released, setting a best-practice guide for how organisations should support people experiencing financial difficulty. Developed by the financial counselling sector, the ten core principles focus on respectful communication, early intervention, and fair, compassionate support for people in…
Financial counsellors welcome today’s landmark decision by the Federal Court, which has endorsed a record $100 million penalty against Optus for unconscionable conduct. Financial Counselling Australia (FCA) says it sends a strong message to all telecommunications providers that mis-selling to vulnerable customers will no longer be tolerated. For some time, financial counsellors have been…
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…