News - Consumer Action Law Centre

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...

The Debt Trap: How payday lending is costing Australians

The Debt Trap: How payday lending is costing Australians projected that the gross amount of payday loans undertaken in Australia will reach a staggering 1.7 billion by the end of 2019. It also found t...

Giving energy users access to fair finance for new energy tech

Consumer Action Law Centre (Consumer Action) welcomes the opportunity to comment on the AA1000439 – New Energy Tech Consumer Code— consultation on proposed amendments to draft Code (Proposed Amendment...

Insurance pricing differences: New vs existing customers

Local councils must take financial hardship into account when collecting rates

Financial counsellors assist clients who are experiencing financial hardship. Most of WEstjustice’s and Consumer Action’s clients are grappling with debts and meeting the high cost of living in Melbou...

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...

Access to basic bank accounts essential for vulnerable banking customers

In our joint submission with Financial Rights Legal Centre (Financial Rights) and Financial Counselling Australia (FCA), we offered strong support for the conditions proposed by the ACCC in its Draft...

Effective banking codes require enforcement measures with teeth

In our joint submission with Financial Rights Legal Centre to Report Three of the Customer Owned Banking Association’s (COBA) independent review of the Customer Owned Banking Code of Practice (COBA Co...

Good consumer outcomes should not be sacrificed for bankers’ bonuses

The financial services industry plays an essential role in the lives of Australians, from providing for day-to-day transactions to providing for a comfortable retirement. Markets were opened becaus...

Funeral expenses only products must be held to a higher standard

Consumer advocates have held long standing concerns over the inadequate regulatory framework for funeral expenses products. In our joint submission with Financial Rights Legal Centre (Financial Rig...

All Victorians deserve access to fair energy pricing

Since its implementation on 1 July 2019, the Victorian Default Offer (VDO) has given more Victorian energy users access to fairer pricing for their essential electricity services. In our comment to...

Payday lenders: trusted friends or debt traps?

Need a loan? Research reveals social media users should be wary of payday lenders using digital platforms to peddle their wares to the vulnerable. If you have ever needed money in a hurry it may ha...

Protecting Australian families from dodgy vendor terms and rent-to-buy arrangements

Over the years, our team has assisted a number of people who have been adversely affected by failed vendor finance and rent-to-buy deals, which are promoted as an opportunity to achieve home ownership...

Energy compliance and performance reporting guideline

Monitoring is only as effective as the information gathered. In our submission to the Essential Services Commission (ESC) Compliance and Performance Reporting Guideline updated to include new entit...

Financial product design and distribution obligations must be consumer centred and limit loopholes

The Design and Distribution Obligations (DADOS) require financial service providers to provide products that meet customer needs rather than focussing on securing the sale. In our joint submission on...

ASIC Enforcement Review

In our joint response to exposure draft legislation implementing certain aspects of the ASIC Enforcement Review Taskforce (ERT) Final Report, Consumer Action and Financial Rights Legal Centre (Financi...

Customer-owned banking code must adequately address financial vulnerability

In our joint submission with Financial Rights Legal Centre to the Report Two of the Customer Owned Banking Association’s (COBA) independent review of the Customer Owned Banking Code of Practice (COBA...

Making it easier for vulnerable customers to access fee-free banking

Access to fee-free ‘basic bank accounts’ are an important support for vulnerable banking customers. In light of the harm banking fees can cause for low-income and vulnerable consumers, Commissioner Ha...

Integrated Practice Project: 2019 Mid-Year Report

Recognising that we need to take a coordinated approach to addressing the civil needs of Victorian Aboriginal communities, Consumer Action Law Centre and the Victorian Aboriginal Legal Service teamed...

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...

Submission: Inquiry into credit and financial services targeted at Australians at risk of financial hardship

Reforming the sale of add-on insurance

Seven leading consumer groups commented on The Treasury’s Reforms to the sale of add on insurance: Proposal Paper: Consumer Action Law Centre Financial Rights Legal Centre CHOICE Consume...

National Energy Retail Amendment (Strengthening Protections for Customers in Hardship) Rule 2018 Draft Rule Determination

The mortgage broking industry is long overdue for reform

The mortgage broking industry is long overdue for reform. Landmark inquiries from the Banking Royal Commission and the Productivity Commission, as well as a number of ASIC investigations, have all...

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...

Energy regulators should have strong powers to stop misconduct

Consumer Action supports the Treasury Laws Amendment (Prohibiting Energy Market Misconduct) Bill 2019 (the Bill). We feel that it will ensure the Australian Energy Regulator (AER) has appropriate powe...

Royal Commission into Mental Health Terms of Reference Consultation

Cashless Debt Card undermines the role of the market in serving consumer and community interests

Much of the Federal Government’s effort to address cost of living pressures involves making it easy to switch and exercise choice, for example, through the new Consumer Data Right. However, the Cashle...

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...

Fairness needs to be at the forefront of the energy market

It is our firm stance that fairness should be at the forefront of all markets. In our comment on the Energy Security Board (ESB) Post 2025 Market Design Issues Paper (Issues Paper), Consumer Action...

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...

Giving energy users access to fair finance for new energy tech

On 9 September 2019, Consumer Action attended a pre-decision conference on AA1000439 New Energy Tech Consumer Code (The Code) Application. We have provided a further submission following the discussio...

“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...

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