Media Release Wednesday, 19 January 2022 Australian consumer groups warn UK Government against industry “self-regulation” of Buy Now Pay Later Financial Counselling Australia and the Consumer Action Law Centre have shared Australia’s experience of weak consumer safeguards for Buy Now Pay Later (BNPL), as part of the UK Government’s consultation…
Financial Counselling Australia (FCA) welcomes the Federal Government’s announcement of continued funding for the Small Business Debt Helpline until the end of 2022. The Small Business Debt Helpline is a free service for small busines owners in financial difficulty. Staffed by specialist small business financial counsellors, the Helpline provides…
A new survey of financial counsellors about the impact of buy now pay later (BNPL) on their clients is a wake up call to the community about this new form of debt. The report’s title says it all: It’s credit, it causes harm and we need safeguards. The report was…
Financial Counselling Australia (FCA), Financial Rights Legal Centre and the Consumer Action Law Centre welcome the Parliamentary Joint Committee on Corporations and Financial Services’ recommendation for legislation to prohibit online gambling operators from accepting credit card funded deposits. Yesterday the Committee released its report, which recommended that gambling companies be…
Financial Counselling Australia welcomes today’s release by the banking industry of a new Financial Difficulty Guideline. The guideline represents the continuing evolution from the banks in the way they respond to customers experiencing financial stress. “This guideline is a really positive move from the banking sector,” said the CEO of…
A new report from the independent body handling complaints about telcos, the Telecommunications Industry Ombudsman (TIO), adds yet more weight to calls from financial counsellors for the industry to lift its game. The TIO has released its latest systemic investigation, called “Responding to consumers in financial hardship”. The report highlights…
Thousands turn to free financial counselling during latest lockdowns Thousands of individuals and small business owners have sought help from the National Debt Helpline (NDH) and Small Business Debt Helpline (SBDH) as they struggle with financial issues during the current lockdowns. The two national not-for-profit organisations run free financial counselling…
Financial counsellors are delighted that common sense has prevailed, with the gambling industry announcing they will support a ban on the use of credit cards for gambling. The community would expect nothing less. The ball is now in the Government’s court, with the next step to introduce effective legislation, including…