Media Release Archives - Page 3 of 11 - Consumer Action Law Centre

ASIC’s overhaul of responsible lending guidance should focus lenders on the welfare of borrowers

Consumer Action Law Centre (Consumer Action) and Financial Rights Legal Centre (Financial Rights) say ASIC’s overhaul of its responsible lending guidance is a welcome announcement in the wake of the d...

ASIC bans cold-calling telephone sales of life, funeral and consumer credit insurances

As the Australian Securities and Investments Commission (ASIC) bans life insurance and consumer credit insurance (CCI) providers from flogging products via outbound telephone sales, Consumer Action La...

Centre Alliance and Labor unite to force action on harmful payday loans and consumer leases

Consumer Action Law Centre (Consumer Action) welcomes the introduction today of legislation in the Senate by Labor and Centre Alliance, in the wake of Government inaction. The Bill is an important mea...

Victorian Government’s class action changes promote corporate accountability

The Victorian Government’s proposed changes to class action rules should enable greater access to justice and promote corporate accountability, according to Consumer Action Law Centre. The Justice...

CommInsure sentencing shows we need a blanket ban on unsolicited selling

In the wake of CommInsure’s breaches of anti-hawking laws, Consumer Action Law Centre (Consumer Action) says it’s time to take urgent and decisive action by implementing an economy-wide ban on unsolic...

Victorian Default Offer price determination protects everyone’s right to a fair price for electricity in 2020

Consumer Action Law Centre (Consumer Action) welcomes the Essential Services Commission’s (ESC) announcement of ongoing price protection for household electricity supply in Victoria. The Victorian...

20,000 Australians demand the end of unfair insurance: Canberra

“Stand up to the insurance lobby” - that’s the message of leading consumer groups as they deliver signatures of over 20,000 Australians to Parliament House in Canberra. The groups anticipate the Fe...

Banks must offer better value bank accounts to struggling Australians

The updated Banking Code received authorisation yesterday from the Australian Competition and Consumer Commission (ACCC) and the ABA are now seeking final approval from the Australian Securities and I...

Data reveals billion-dollar payday lending industry driving Australians into debt

Over 20 consumer advocacy bodies from around the country have released new data revealing that predatory payday lenders are profiting from vulnerable Australians and trapping them in debt, as they cal...

Consumer protections in insurance about to take a much-needed leap forward

The general insurance industry’s new code of practice is a long awaited and necessary advancement, according to the Financial Rights Legal Centre (Financial Rights) and Consumer Action Law Centre (Con...

Government crackdown on dodgy insurance sales could save Australians millions

When insurance is added onto the sale of another product or service, consumer groups reveal that it’s likely to be a rip-off. This comes in the wake of the Australian Government’s consultation on how...

CommBank criminal charges reinforces need for urgent law reform

The Banking Royal Commission exposed the considerable harm caused by unsolicited selling of insurance products. Today one of Australia’s big four banks has been charged with 87 criminal counts of “haw...

ASIC’s intervention in junk ‘add-on’ insurance market open to abuse by car dealers as DemandaRefund.com tops $5 million

Consumer Action says the Australian Securities and Investment Commission’s (ASIC) proposal to use its product intervention powers (PIP) for add-on insurance and warranties sold by caryards lacks teeth...

New telco industry data highlights urgent need for effective regulation and enforcement powers to protect Australians

New complaints data released by the Telecommunications Industry Ombudsman (TIO) emphasises the clear need for regulation and strengthened regulator enforcement powers to protect Australians from poor...

“I don’t want other women falling into the same trap.” Victorian woman joins Canberra delegation to urge Government to stop predatory payday lenders

A Victorian woman who has suffered at the hands of payday lenders has an important message for the Government about the dangers of payday loans as she joins the Stop the Debt Trap Alliance, a coaliti...

Rent4Keeps sued over unaffordable consumer leases

A Victorian woman living with a disability has brought proceedings in the Federal Circuit Court regarding five consumer lease contracts from Darranda Pty Ltd, trading as Rent4Keeps, and Mobberley Ente...

Time is up for predatory credit agent, Cigno as ASIC confirms ban of lending model

Cigno has been weighed, measured and found wanting as the Australian Securities & Investments Commission (ASIC) takes decisive action to ban a predatory lending business model using its newfound p...

Urgent need for payday loan reform acknowledged by Consumer Affairs Ministers

The need for urgent law reform to protect consumers from unfair and predatory payday loans has been reinforced at a meeting of Australian and New Zealand ministers in Queenstown, New Zealand. Minis...

Consumer advocates unite as Government inaction on payday loan reform hits 1,000 days

As the counter ticks over to 1,000 days since the Coalition Government accepted the recommendations from the Small Amount Credit Contract (SACC) review, consumer advocacy organisations across the coun...

Time to implement Hayne recommended law reform following court decision

The Financial Rights Legal Centre (Financial Rights) and Consumer Action Law Centre (Consumer Action) have called for the Government to amend responsible lending laws to ensure that lenders make reaso...

Regulator to implement blanket ban on insurance cold calling

An Australian Securities and Investments Commission (ASIC) consultation paper, released today, proposes a ban on unsolicited telephone sales of direct life insurance and consumer credit insurance (CCI...

Landmark report shows Victorian Government’s new policies are reducing energy disconnections, but energy companies are still falling short addressing consumer vulnerability

A new report shines a light on the Victorian Government’s ‘Payment Difficult Framework’ finding that disconnections have significantly decreased, but some energy companies are still giving vulnerable...

Regulator slams ‘junk insurance’ sold by banks as Aussies demand over $2 million in refunds

The Australian Securities and Investments Commission (ASIC) report released today confirms that consumer credit insurance, commonly tacked on when taking out a loan or credit card, is junk. This news...

Consumer Action lodges complaint to Commonwealth Ombudsman about the Department of Human Services’ poor administration of Centrepay

Consumer Action Law Centre (Consumer Action) has made a formal complaint to the Commonwealth Ombudsman about the Department of Human Services (DHS). This complaint comes after the department failed o...

Consumer Action supports ASIC use of new powers to tackle predatory credit agents such as Cigno

Businesses such as Cigno Pty Ltd, which facilitate access to predatory and unregulated payday loans by exploiting loopholes in the law, are on notice as the Australian Securities and Investment Commis...

Telecommunications Consumer Protection Code Inadequately Protects Consumers: Consumer Groups

The revised Telecommunications Consumer Protection (TCP) Code fails to adequately protect telco consumers, according to consumer groups. Despite consultation with the telco industry and regulator,...

Unconscionable conduct: Divided High Court confirms need for change to the law

In its response to the High Court finding that a ‘book-up’ credit scheme operated in the remote Aboriginal community of Mintabie in the South Australian APY lands was not unconscionable, Consumer Acti...

Government sets new energy price safety net to stop Victorians getting ripped off

Victorians will be taking back control of their energy prices thanks to the introduction of the Government’s new default energy offer. Consumer Action Law Centre (Consumer Action) is strongly suppo...

Newly passed bill officially bans rent-to-buy and vendor finance schemes from the Victorian housing market

The historic ban on certain residential vendor terms and rent-to-buy agreements, included in the Sale of Land Amendment Bill 2019 passed by Parliament this week means vulnerable home purchasers will b...

ASIC handed new powers to tackle harmful financial products

Newly enacted laws about the fairness of financial products and services can work to prevent harm in banking and finance if the Australian Securities and Investments Commission (ASIC) takes immediate...

Ban on vendor term and rent-to-buy transactions to make buying a home fairer for all Victorians

Consumer Action Law Centre (Consumer Action) supports a ban on vendor term and rent-to-buy agreements in the housing market proposed by the Sale of Land Amendment Bill 2019, which is to be introduced...

It’s time to clean up energy market pricing for all Victorians

Consumer Action Law Centre (Consumer Action) commends the Essential Services Commission’s (ESC) draft advice to the Victorian Government about the default regulated price for electricity, but urges re...

Community legal centres and financial counsellors get the vote for more funding

The Australian Labor Party (ALP) has promised a significant funding boost for financial counsellors and community legal centres across the country if it wins the next election. The ALP has committed t...

Senate Inquiry report recommends vital safeguards for Australian families struggling with debt

Consumer Action Law Centre (Consumer Action) says that, if implemented, the recommendations in the final report from the Senate Inquiry into credit and financial services targeted at Australians at ri...

Mortgage Broking: Consumer groups quit disingenuous consultation

Consumer groups have quit en masse from a mortgage broking industry forum, saying that the industry isn’t interested in doing the right thing by the community and has been disingenuous. CHOICE, Con...

Increased consumer protections and removal of legal loopholes key Royal Commission recommendations

Increased consumer protections and removal of loopholes and exemptions are the key recommendations from the Hayne Royal Commission that will benefit everyday Australians says Consumer Action Law Centr...

‘Car-napping’ court win against car hire company

Consumer Action Law Centre (Consumer Action) has successfully defended a case brought by hire car company, Insurance Replacement Rentals (IRR), against Mr Makyle Mekonnen, a car accident victim. The...

For Australians, debt advice must be a matter of trust: Consumer Action

All Australians looking to get their finances back on track should be able to trust the financial or debt advice they receive. Sadly, this trust has been broken by dodgy debt advisers and other poorly...

Banks bosses should lose their conflicted payments: MEDIA RELEASE

It’s time to give regulators the resources and powers they need and stop finance executives pocketing bonuses for rip offs, according to Consumer Action Law Centre in its response to the Royal Commiss...

The Victorian Default Offer to cut energy bills: Consumer Action

The Victorian Default Offer, announced today by the Victorian Government, is a positive step towards all Victorian households enjoying fairer prices on their energy bills according to Consumer Action...

MEDIA RELEASE: Government unlocks energy and water grants for vulnerable Victorians

Financial and Consumer Rights Council (FCRC) and Consumer Action Law Centre (CALC) today congratulated the Victorian government for its recently announced reforms to the Utility Relief Grant Scheme (U...

Debt vultures to go under the microscope of Senate Inquiry: MEDIA RELEASE

Today the Australian Senate voted to establish an inquiry into debt management firms (known as debt vultures). Consumer Action Law Centre (Consumer Action) has long argued that debt vultures operate i...

“High billing” top energy issue for Victorians

The annual report from Energy and Water Ombudsman (Victoria) (EWOV), released today, shows why Victoria’s politicians need to act to tackle the high energy bills crisis. According to the report, compl...

Consumer groups respond: Banking Royal Commission Interim Report

The release of the Interim Report from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry today is a watershed moment for the finance sector according...

New Legislation to mark the end of VET FEE-HELP disaster: MEDIA RELEASE

Federal Minister for Skills and Vocational Education, Senator Michaelia Cash has announced new legislation that will waive VET FEE-HELP debts that were incurred because of inappropriate conduct by VET...

Consumer groups respond to resignation of ASIC Deputy Chair: MEDIA RELEASE

The Consumer Action Law Centre, Financial Counselling Australia and CHOICE have responded to the news of ASIC Deputy Chair Peter Kell’s resignation by calling for the Government to ensure that he is r...

Grant Stewart – Royal Commission Witness: MEDIA RELEASE

Today Victorian man Grant Stewart, 61, gave evidence to the Financial Services Royal Commission about a life insurer pressure-selling insurance to his son, who has a disability. Mr Stewart told t...

Life insurance cold calling must be banned: consumer advocates

Consumer advocates are calling for a ban on life insurance cold calling, after ASIC today revealed major rip offs and startlingly high claims rejections. ASIC reported today that insurers are cold-...

Enough talk on electricity, governments must walk the walk and guarantee lower prices

In light of the disappointing Federal Government decision on the National Energy Guarantee, consumer and end-user groups (the ‘Group’) representing regional and urban communities have joined together...

Solar energy rebate a win for households – now for fair energy tariffs

Consumer Action Law Centre has welcomed a new Victorian government solar energy rebate program for 650,000 households, saying that solar energy on homes can help people save on power costs. “A reba...

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