"We Need to Talk about Newstart" - Financial counsellors release graphic recording explainer

Posted by SAFCA on 16 July 2019
Source: FCA Financial Counselling Australia and the State and Territory financial counselling associations* join with thousands of Australians, business leaders and community groups in calling on the Government to "Raise the Rate". Financial counsellors are playing their part in a national week of action asking the Federal Government to increase the level of Newstart so that people looking for jobs are not living on the breadline. As part of our contribution to the campaign,...
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Consumer Action lodges complaint to Commonwealth Ombudsman about the Department of Human Services' poor administration of Centrepay

Posted by SAFCA on 11 July 2019
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 on multiple occasions to apply its own policy to address exploitative consumer lease providers using the Centrepay bill-payment system. Since November 2017, Consumer Action has made multiple complaints to DHS about systemic misconduct of consumer lease companies exploiting people through th...
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FCA RESPONDS TO ASIC PROPOSAL TO USE ITS NEW PRODUCT INTERVENTION POWERS TO REIN IN UNREGULATED PAYDAY LENDING - IT CAN'T HAPPEN SOON ENOUGH

Posted by SAFCA on 9 July 2019
Financial Counselling Australia notes the release today of an ASIC consultation paper about whether it should use its new product intervention powers to rein in the lending practices of companies operating outside the credit laws. The answer is yes.  And it can't happen soon enough. Financial counsellors have been dealing with case after case of a short-term lender using this business model: Cigno. Cigno is not bound by the credit laws because of its unusual structure, which sp...
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Funeral insurance company slammed by the banking royal commission rebrands with help from former NRL star Jamal Idris

Posted by SAFCA on 9 April 2019
A funeral insurer slammed by the banking royal commission for potentially misleading Indigenous customers has rebranded and enlisted a former NRL star as an ambassador. Jamal Idris, who retired from rugby league in 2017, has been promoting Youpla a rebrand of the Aboriginal Community Benefit Fund (ACBF). At the royal commission, ACBF faced accusations of exploiting the cultural significance of funerals to Aboriginal communities and selling low value products, including to children. In t...
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Government appoints Louise Sylvan to head review of financial counselling services

Posted by SAFCA on 12 March 2019
The Liberal National Government last week announced former ACCC deputy chair, Louise Sylvan AM, will lead its Financial Counselling Services Review. The Government recently announced its intention to hold this review, in response to Commissioner Hayne's observations about the importance of financial counselling services in the Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. "We have commenced this short, sharp R...
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