Strengthening consumers’ voice in policy and regulation affecting superannuation
Choosing a superannuation fund is one of the most important financial decisions a person will make. However, the superannuation system is failing countless Australians. People across Australia cont...
Making the insurance claims process fair
From a consumer perspective, claims handling is the most critical part of the insurance process, and one of the most problematic. Too often, the claims process is arduous, lengthy and unfair. In ou...
FinTech and RegTech should support positive outcomes for consumers
While we support the development of innovative services and business models that genuinely meet the needs of consumers much of the existing legal and regulatory frameworks are no longer fit for purpos...
Lack of minimum efficiency standards put renters at greater risk of energy debts
The financial counsellors working on Consumer Action's National Debt Helpline service provided financial counselling to over 11,000 people in the 2018/19 financial year. Often issues with low quality...
Strong compliance and enforcement is needed in telecommunications industry
Consumer Action receives 2-3 new calls per week through our legal assistance and worker advice lines or the National Debt Helpline about clients who are negatively affected by unaffordable phone debt....
Enhanced protections and clearer responsibilities will better support retirees
There are many systemic issues exist with retirement housing that adversely affect retirees’ wellbeing in their golden years. These include housing providers using threats of eviction to discourage re...
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...
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...
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...
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...
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...
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...
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...
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...
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...
