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Showing 1 - 10 of 128 results for "Financial hardship"

Westpac fined $26m for financial hardship neglect

KARREN VERGARA  |  WEDNESDAY, 27 MAY 2026
Major bank Westpac has copped a $26 million fine for neglecting customers facing financial hardship over a six-year period. The Federal Court found the bank failed 277 customers facing financial troubles by not providing a written response to their ...

Financial services failing to provide consistent outcomes: AFCA

MATTHEW WAI  |  FRIDAY, 22 MAY 2026
... following the organisation's own policies," AFCA said. "A number of the matters involved consumers experiencing financial hardship, bereavement, serious illness or other vulnerability. In these circumstances, operational failures such as delays, administrative ...

Deadline approaches for Shield, First Guardian victims

MATTHEW WAI  |  FRIDAY, 6 FEB 2026
... instructions on lodging complaints, the website also provides access to support services for those experiencing financial hardship or who need someone to talk to. ASIC noted that consumers impacted can expect to receive correspondence from ASIC in the ...

Feature: Group insurance | Cold comfort

MATTHEW WAI  |  WEDNESDAY, 22 OCT 2025
... finding? A trustee that took over 500 days to pay a claim to a grieving widow and failed to respond to her financial hardship concerns. In November 2024, ASIC launched proceedings against Cbus, having found that thousands of claimants waited more than ...

Public feedback welcomed for Life Code improvements

MATTHEW WAI  |  MONDAY, 20 OCT 2025
... underwriting?" There are also other subjects relating to family and domestic violence, First Nations customers, financial hardship, and more. Kell said the consultation paper is an important step in developing recommendations to meet evolving standards ...

Aware Super makes fee changes

ELIZA BAVIN  |  MONDAY, 15 SEP 2025
... members may be able to have their insurance premium waived due to employer-approved parental leave or severe financial hardship. The changes mean eligible members can have premium-free insurance cover for 12 continuous months. The fund added there was ...

ANZ fined $240m for bond trading, retail misconduct

KARREN VERGARA  |  MONDAY, 15 SEP 2025
... the repeated failures to rectify crucial issues." Retail matters ANZ will pay $40 million for dismissing 488 financial hardship concerns from customers, who communicated serious issues such as domestic violence and medical conditions, between May 2022 ...

NGS Super readies for admin transformation

JAMIE WILLIAMSON  |  WEDNESDAY, 27 AUG 2025
... their account during the limited service period. All income and pension payments will be paid early, it added. Financial hardship payments, insurance claims and payments, and immediate access to funds will be available and prioritised, NGS Super said. ...

NAB fined over $15m for delaying hardship applications

MATTHEW WAI  |  THURSDAY, 14 AUG 2025
... established NAB Care to provide personalised support, as well as recruiting additional staff to support customers in financial hardship. "While this reflects the unfortunate reality that many Australians continue to face financial challenges, the increasing ...

GESB to roll out premium changes

JAMIE WILLIAMSON  |  TUESDAY, 10 JUN 2025
... work date or for up to 12 months. The funds will also waive premiums for members following the payment of a financial hardship early release claim for up to 12 months. The waiver can only be applied once and the members' account must have a balance greater ...
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