ASIC - Consumer Action Law Centre

Bank fees: ACCC’s low or no-fee account ruling a boost for thousands of Aussies doing it tough

Consumer advocates say the Australian Competition and Consumer Commission’s (ACCC) landmark determination requiring banks to proactively move eligible customers into low or no-fee accounts unless they...

Curbing lead generation activity

This is a joint submission from Consumer Action Law Centre, Super Consumers Australia, Financial Rights Legal Centre, Mob Strong Debt Help, Financial Counselling Australia, Consumer Credit Legal Servi...

Banking Code Compliance Committee priorities 2026-27

This submission is provided on behalf of Consumer Action Law Centre, Financial Rights Legal Centre, Mob Strong Debt Help and Mortgage Stress Victoria. We strongly support the Banking Code Complian...

Information Request: Deferred Sales Model Class Exemptions

The Financial Rights Legal Centre (Financial Rights) and Consumer Action Law Centre (Consumer Action) long held position has been that there should be few if any exemptions at all to the Deferred Sale...

Consumer Action welcomes preliminary findings from ASIC’s review of motor car finance

Consumer Action Law Centre has welcomed the Australian Securities and Investment Commission’s (ASIC) release today of initial findings from their review into motor vehicle financing, noting that the r...

Response to the ASIC’s Regulatory Simplification Paper REP 813

Consumer Action has welcomed the opportunity to take part in the Australian Securities and Investment Commission's (ASIC) simplification work via the Simplification Consultative Group. In that forum w...

Consumer advocates welcome banks’ commitment to refund $93 million, but gaps in support remain

Consumer advocates have welcomed a commitment from Australian banks to refund more than $93 million to low-income customers after charging excessive fees, but significant gaps in support remain, with...

Rogue lender Cigno and its Directors lose appeal to the Full Federal Court

Cigno Australia Pty Ltd and its directors’ appeal to the Full Federal Court has been dismissed today and costs awarded to the Australian Securities and Investment Commission (ASIC). Consumer Action...

Insurers once again shown to be failing customers, not meeting expectations

Consumer groups including Financial Rights Legal Centre, Financial Counselling Australia and Consumer Action Law Centre, have backed calls from the insurance regulator the Australian Securities and In...

REPORT: Payday lenders pushing borrowers over the edge

The Australian Securities and Investment Commission (ASIC) has today released a report revealing what consumer advocates have been saying for months – predatory lenders are pushing customers in vulner...

Code Governance Committee monitoring priorities for 2025-26

Insurance files form a large part of our legal casework and frequently involve clients in personal or financial crisis. While many claims may appear straightforward to an insurer, no claim is simple t...

Fed Court decision final ‘nail in the coffin’ for predatory lenders Cigno Australia Pty Ltd and BSF Solutions Pty Ltd

Consumer Action Law Centre is delighted the Federal Court has issued a strong decision that calls out Cigno Australia Pty Ltd, BSF Solutions Pty Ltd and two of the entities’ directors for exploiting l...

Lenders’ handling of customers’ hardship inadequate, as requests for help soar

The Australian Securities and Investment Commission (ASIC) has released a new report today, that outlines findings from a review of 10 large home lenders and concludes they should be doing much more t...

Response to consultation paper 371 – Product intervention orders in credit

This is a joint submission made on behalf of Consumer Action Law Centre, Financial Rights Legal Centre, Financial Counselling Australia, Indigenous Consumer Assistance Network, WEstjustice, The Salvat...

REPORT: Insurers must lift their game and handle customer claims better especially for vulnerable consumers

A new Report from the Australian Securities and Investment Commission (ASIC), Navigating the storm: ASIC's review of home insurance claims (LINK) calls on Australia’s insurers to step up and improve r...

ASIC action against debt vulture preying on people in financial hardship welcomed

Consumer Action Law Centre has welcomed news that corporate watchdog the Australian Securities and Investments Commission (ASIC) is taking legal action against Bakken Holdings Pty Ltd, also known as S...

Australia’s banks failing customers by placing all the burden of the scams crisis on them says damning ASIC report

Australia’s four major banks are failing their customers by taking a ‘variable and…less mature’ approach to scams than expected, with ‘inconsistent and narrow approaches to determining liability’ as w...

Scams must be stopped: Westpac alerts for mis-matched payments and money transfer measures welcomed

Consumer Action CEO Stephanie Tonkin says Westpac’s announcement of a new verification system for payments and money transfer measures to new accounts are “…steps in the right direction to help stop t...

Consumer advocates praise court decision against Cigno loans

Consumer advocates have welcomed a Full Federal Court decision striking down a credit law avoidance strategy used by Cigno Pty Ltd and BHF Solutions. For years, fringe lender Cigno has preyed upon...

ASIC litigation against payday lender: new Federal Government must deliver overdue reform

Consumer Action has welcomed the Australian Securities and Investment Commission’s (ASIC) announcement that it is suing Sunshine Loans for breaches of the National Credit Code for charging unlawful fe...

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