Consumer advocates making up the Stop the Debt Trap coalition across Australia have welcomed the introduction of the Financial Sector Reform Bill 2022 which, among other things, enhances long overdue consumer protections for high-cost payday loans and consumer leases. A 2016 independent review of these types of high-cost credit arrangements recommended a…
Consumer groups have responded to the Quality of Advice Review’s proposal to dismantle core consumer protections Quotes attributable to Consumer Action Law Centre CEO Gerard Brody “One of the six principles coming out of the Financial Services Royal Commission was ‘when acting for another, act in the best interest of…
First step towards a resolution” Save Sorry Business Coalition welcomes initial response from government on Youpla/ACBF collapse Funeral Insurance, Media Release First Nations, Indigenous, Save Sorry Business, Youpla The Save Sorry Business Coalition, which is supported by 130 organisations and almost 20,000 individuals, welcomes today’s Government announcement for the…
MEDIA RELEASE New research shows that Buy Now Pay Later is not a free or low-cost option compared to traditional credit cards. New research from Curtin University, commissioned by Financial Counselling Australia, shows Buy NowPay Later (BNPL) fees are effectively a quasi-interest rate that can be more costly…
More than 100 organisations have signed an open letter calling on the next Parliament to urgently make buy now pay later (BNPL) and wage advance products safer. Initiated by Financial Counselling Australia, Anglicare Australia, CHOICE, Financial Rights Legal Centre and the Consumer Action Law Centre, the letter has been endorsed…
A new survey of financial counsellors has highlighted the growing harm caused by gambling and the urgent need for additional workforce training. Financial Counselling Australia (FCA), on behalf of the state and territory financial counselling associations, is calling on the Federal Government and the Opposition to commit to provide funding…