Corporate regulator takes legal action to stop harmful rogue lending

The Australian Securities and Investments Commission (ASIC) this week commenced legal proceedings against Cigno Pty Ltd (Cigno) and BHF Solutions Pty Ltd (BHFS), alleging the companies provided credit...

October 1, 2020

Government waters down payday lending reforms

The Government has announced that it will weaken proposed consumer protections it promised to implement nearly four years ago in relation to small amount credit contracts (payday loans) and consumer l...

September 28, 2020

Consumer groups slam move to remove responsible lending law

Removing credit protections will cause harm to people and the economy   CHOICE, Consumer Action Law Centre, Financial Counselling Australia and Financial Rights Legal Centre have responded to the Gov...

September 25, 2020

Revamped Koorihelp website and Facebook page launched for community

Consumer Action has launched a revamped Koorihelp website and new Facebook page focused on providing the latest information about pressing consumer issues and services to Victoria’s Aboriginal and Tor...

September 23, 2020

Government-led Senate Committee backs strengthening consumer protections for predatory payday loans and high-cost leases

A Senate Committee has handed down its final report on proposed reforms to payday loans and consumer leases in the National Consumer Credit Protection Amendment (Small Amount Credit Contract and Consu...

September 22, 2020

Consumer groups welcome South Australian crackdown on predatory lenders

Consumer groups have applauded the South Australian government’s plans to crackdown on payday lenders and consumer lease providers. The government’s proposed laws would introduce important consumer pr...

September 16, 2020

Australian Competition Tribunal decision: A missed opportunity to improve solar sales practices

The Australian Competition Tribunal (the Tribunal) has handed down its decision today on the New Energy Tech Consumer Code (the Code), the proposed industry code for new energy technology such as sola...

September 15, 2020

Report misses the mark on buy now pay later regulation

The Senate Select Committee on Financial Technology and Regulatory Technology has published its Interim Report. Consumer groups say the Interim Report has missed the mark on its recommendation encoura...

September 3, 2020

Inquiry into Victoria’s Response to COVID-19

COVID-19 has deeply affected the Victorian community in unprecedented ways. With a significant number of job losses and most of the population staying at home in compliance with public health orders,...

August 10, 2020

Using the product intervention power: Continuing credit contracts

The Australian Securities and Investment Commission (ASIC) is consulting on using its product intervention powers (PIP) against the second Cigno lending model. Consumer Action Law Centre (Consumer...

August 7, 2020

Consumer groups welcome NAB crackdown on debt vultures

Consumer groups have welcomed a crackdown on debt vultures by National Australia Bank (NAB). In a statement today, NAB says it will no longer deal with unlicensed debt management providers. Cons...

July 29, 2020

Responsible lending law reform needed urgently

Consumer groups are extremely disappointed in ASIC’s decision not to appeal the Full Federal Court’s decision in the Westpac case to the High Court of Australia.[1] The Financial Rights Legal Centr...

July 22, 2020

Regulator proposes to stop the latest predatory lending model involving Cigno

The corporate regulator is proposing to again use its product intervention power (PIP) in relation to Cigno and BHF Solutions. Consumer Action Law Centre supports the move, saying there is a desperate...

July 9, 2020

Banks Announcement of Further Assistance for Customers a Timely Relief

Today’s announcement by the banking industry of further assistance to help customers experiencing financial hardship will provide some important relief to those who continue to be impacted by COVID-19...

July 8, 2020

Regulator reveals telcos failing to do proper credit checks 

The telco regulator has released worrying findings from its mystery shopping study into companies' credit assessments today.  The study released today by the Australian Communications and Media Aut...

June 30, 2020

Consumer groups: Federal insurance pricing monitor a ‘national priority’ ahead of next bushfire season as NSW office closes

The closure of the NSW insurance pricing monitor today leaves a gap in consumer protection that should be filled by an independent national body says a coalition of consumer groups. The NSW Emergen...

June 30, 2020

Consumer Action asks Tribunal to stop ‘buy now pay later’ solar rip offs

Today the Australian Competition Tribunal will commence hearing arguments on the New Energy Tech Consumer Code (the Code), the proposed industry code for new energy technology such as solar panel sale...

June 9, 2020

Australians urged to share their stories about financial hardship during COVID-19

Today, Consumer Action Law Centre has launched an online form to enable people to share their experiences of financial hardship during the Covid-19 emergency. The goal is to help track the severity an...

May 20, 2020

Junk insurance rorts continue despite millions in refunds

The Australian Securities and Investments Commission’s (ASIC) announcement today that it has secured its final tranche of remediation for consumers sold junk consumer credit insurance (CCI) by 11 bank...

May 13, 2020

Government reaffirms commitment to implement Banking Royal Commission reforms in full

Today the Government announced a six-month deferral to the implementation of commitments associated with the Banking Royal Commission. Under the updated timetable, measures previously scheduled for...

May 8, 2020

Submission: Bushfire Royal Commission and insurance affordability

Consumer Action’s submission to the Royal Commission into National Natural Disaster Arrangements covers the insurance and financial challenges faced by communities in the aftermath of the Black Summer...

April 27, 2020

Consumer group tells Bushfire Royal Commission that climate change is creating a perfect storm for insurance affordability

Consumer Action has warned that climate change is expected to make insurance unaffordable for many as extreme weather events hit Australia as part of its submission to the Bushfire Royal Commission re...

April 27, 2020

We’re at crisis point. Government needs to shut down predatory lenders.

Every week, community and consumer advocates speak to people trapped in payday lending debt. For years, we’ve been campaigning to stop the debt trap and harm caused by payday lenders. We’ve talked to...

April 16, 2020

Product design and distribution obligations –ASIC Consultation Paper 325

Consumer groups have commented on ASIC’s Consultation Paper 325 – Product design and distribution obligations. We strongly support the introduction of product design and distribution obligations (DDOs...

April 6, 2020

No impact on credit files during COVID-19 pandemic a welcome announcement by banks

Consumer groups welcome the announcement by the Australian Banking Association that bank customers applying for payment deferrals as a result of the COVID-19 pandemic will not have a missed payment or...

April 6, 2020

Keep communities connected, urge more than 40 community organisations across Australia

As more people face the prospect of losing work due to the COVID-19 health  crisis, community organisations are calling on banks, telcos, energy retailers, and rental providers to help people stay con...

March 19, 2020

A little relief will go a long way for thousands struggling due to COVID-19

Widespread disruption caused by COVID-19 is being felt across Australia. It won’t be long before we have thousands of people trying to survive on a reduced income, worried about whether they can pay t...

March 16, 2020

Banking Royal Commission reforms: “Pivotal moment in implementing Hayne’s vision”

Consumer Credit Legal Service (WA), CHOICE, Consumer Action Law Centre, Financial Counselling Australia, Financial Rights Legal Centre and Super Consumers Australia have today published policy submi...

March 10, 2020

Joint submission: Re: Financial Regulator Assessment Authority Bill 2020

This is a joint consumer submission from Financial Rights Legal Centre, CHOICE and the Consumer Action Law Centre to Treasury providing comment on the Financial Regulator Assessment Authority Bill 202...

March 10, 2020

Joint submission to the Treasury re: Duty to take reasonable care not to make a misrepresentation to an insurer

This is a joint consumer submission from the Financial Rights Legal Centre, Consumer Action Law Centre, CHOICE, the Public Interest Advocacy Centre, Financial Counselling Australia, and the Consumer C...

March 10, 2020

Joint submission: Exposure draft – Deferred sales model for add-on insurance – FSRC Rec 4.3

This submission has been prepared by Consumer Action Law Centre with contributions and endorsement from Financial Rights Legal Centre, Financial Counselling Australia, CHOICE, Consumer Credit Law Cent...

March 10, 2020

Joint submission: Exposure draft – No hawking of financial products – FSRC Rec 3.4 and 4.1

This submission has been prepared by Consumer Action Law Centre with contributions and endorsements from Financial Rights Legal Centre, CHOICE, Consumer Credit Legal Service (WA), and Financial Counse...

March 10, 2020

Joint submission: Strengthening breach reporting

This is a joint consumer submission from Consumer Credit Legal Service (WA), CHOICE, Consumer Action Law Centre and Financial Rights Legal Centre. We strongly support proposed reforms to the breach re...

March 10, 2020

Joint submission: Enforceability of financial services industry codes

This is a joint submission by Financial Rights Legal Centre, the Consumer Action Law Centre, CHOICE, Financial Counselling Australia, Consumer Credit Legal Service (WA) and the Consumers’ Federation o...

March 10, 2020

Joint submission re: Exposure Draft Implementation of ASIC Enforcement Review Taskforce – Directions Power

This submission has been drafted by Consumer Action Law Centre with contributions and endorsement from Financial Rights Legal Centre, CHOICE, Consumer Credit Legal Service (WA), and Financial Counsell...

March 10, 2020

Joint submission re: Exposure Draft: Cap on vehicle dealer commissions

This submission has been drafted by Consumer Action Law Centre with contributions and endorsement from Financial Rights Legal Centre, CHOICE, Financial Counselling Australia, and Consumer Credit Legal...

March 10, 2020

Joint submission: Financial Services Royal Commission Recommendations 4.6 – Limiting avoidance of life insurance contracts

This is a joint consumer submission from the Financial Rights Legal Centre, Consumer Action Law Centre, CHOICE, the Public Interest Advocacy Centre, Financial Counselling Australia and Consumer Credit...

March 10, 2020

Joint submission: Financial Services Royal Commission Additional commitment in response to Recommendation 4.2 – Restricting the use of the term ‘insurance’ and ‘insurer’

This is a joint submission from the Financial Rights Legal Centre, Consumer Action Law Centre, CHOICE, Financial Counselling Australia and Consumer Credit Legal Service (WA) and provides comment on th...

March 10, 2020

Joint submission: Re: Ongoing fee arrangements and disclosure of lack of independence

This is a joint consumer submission from Financial Rights Legal Centre, CHOICE and the Consumer Action Law Centre. Read the full submission [here]  ...

March 10, 2020

This isn’t news, but thousands of people getting caught in debt is

Consumer Action Law Centre (Consumer Action) has made a submission on reforms to make payday loans and rent-to-buy schemes safer, fairer and more affordable. This is the fourth time the Centre has mad...

February 26, 2020

Time’s up: Government must step up and pass payday lending and rent-to-buy reforms

Consumer Action's submission to the Senate Economics Legislation Committee calls on Parliament to pass the National Consumer Credit Protection Amendment (Small Amount Credit Contract and Consumer Leas...

February 25, 2020

Establishing a Compensation Scheme of Last Resort

Consumer groups have made a joint submission to the Treasury’s Discussion Paper, Implementing Royal Commission Recommendation 7.1 – Establishing a Compensation Scheme of Last Resort (December 2019). T...

February 20, 2020

New report reveals how irresponsible lenders are causing harm in Victorian Aboriginal communities

Consumer Action Law Centre (Consumer Action) and the Victorian Aboriginal Legal Service (VALS) are launching a new report on how irresponsible lenders are causing harm in Victorian Aboriginal communit...

February 14, 2020

Consumer Issues in Victorian Aboriginal Communities: Integrated Practice Project Report 2020

‘Consumer issues in Victorian Aboriginal communities’ reports findings from Consumer Action Law Centre’s (Consumer Action) and the Victorian Aboriginal Legal Service’s (VALS) Integrated Practice proje...

February 14, 2020

Consumer advocates welcome Act implementing three key Banking Royal Commission recommendations

Today the Government passed the first omnibus bill in the wake of the Banking Royal Commission, which consumer advocates say will help address long-standing problems with unfair insurance contracts, f...

February 6, 2020

RBA Review of Retail Payments Regulation

The payments landscape has changed rapidly since the RBA’s last review of retail payment systems five years ago. The emergence of new payment schemes, such as buy now, pay later (BNPL) has skewed the...

February 5, 2020

One year on and greater focus needed to complete Hayne’s vision

Tomorrow marks one year since Commissioner Kenneth Hayne submitted the Banking Royal Commission Final Report. The Government has taken big steps towards cleaning up the finance sector, but consumer ad...

January 31, 2020

What type of financial relief is available for people directly affected by the Victorian bushfires?

Here is a list of relief packages available to help relieve the financial stress associated with paying: Credit card bills Loan repayments Energy bills Water bills Landline and mobile...

January 9, 2020

What type of financial support is available for people who have lost homes or income due to the Victorian bushfires?

Here is a list of financial payments available to support people who have lost their homes or their income as a direct result of the 2019-2020 bushfires in Victoria. This is not an exhaustive list...

January 9, 2020

Bushfire 2019-20 Support

As has been widely reported, we have never seen a bushfire crisis of this magnitude in Australia. Here is a list of ways you can give and receive support during this time.   Victorian Legal A...

January 6, 2020