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Tag: ASIC

You are here:  HomeConsumer Action Law Centre  ⁄  News  ⁄  ASIC

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...
August 31, 2023

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...
August 16, 2023

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...
August 10, 2023

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...
April 20, 2023

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...
March 7, 2023

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...
June 28, 2022

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...
June 8, 2022

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