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Showing 41 - 50 of 3273 results for "Consumers"

Inflation eases to 4.3%

KARREN VERGARA  |  WEDNESDAY, 10 JAN 2024
... purchases at department stores (up 3.3%). ABS head of business statistics Robert Ewing said: "The strong rise suggests that consumers held back on discretionary spending in October to take advantage of discounts in November. Shoppers may have also brought ...

AFCA reports unprecedented complaint spike

ANDREW MCKEAN  |  TUESDAY, 9 JAN 2024
The Australian Financial Complaints Authority (AFCA) received a record 102,790 complaints from consumers and small businesses unable to resolve disputes with financial firms in 2023. This marks the first time Australia's financial dispute resolution ...

AFCA amends consumer compensation caps

KARREN VERGARA  |  TUESDAY, 9 JAN 2024
The Australian Financial Complaints Authority (AFCA) has revised the maximum amount consumers can claim for compensation. As of 1 January 2024, the maximum compensation amount a complainant can apply for is $1.263 million, which was previously $1.085 ...

ASIC extends intervention orders against predatory lenders

CHLOE WALKER  |  MONDAY, 8 JAN 2024
... protection in the market against these high-cost lending products. "Predatory lending practices targeting vulnerable consumers is an ongoing priority of ASIC, and we will continue to intervene to address this type of conduct," she said.

Zurich cleared by Federal Court in life insurance dispute

ANDREW MCKEAN  |  MONDAY, 8 JAN 2024
... customer's insurance policy. ASIC enforcement action plays an essential role in testing legislation to ensure it affords consumers with appropriate protection," she said. ASIC is currently assessing the Court's ruling.

Fee consent forms, FDS overhaul concerns FAAA

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... said: "This is counter to the intent of achieving standardisation and will not reduce red tape. It will not relieve consumers from having to provide consent on multiple forms, where the client has more than one product holding." Instead, the legislation ...

Mild recession in 2024, higher interest rates: Vanguard

KARREN VERGARA  |  WEDNESDAY, 13 DEC 2023
... to sound money report that interest rates will remain above the rate of inflation, severely affecting the ability of consumers and businesses to borrow. While central banks feel more confident in achieving inflation targets, Vanguard anticipates rate ...

UK to overhaul advice affordability, access

KARREN VERGARA  |  TUESDAY, 12 DEC 2023
... is proposing major changes to make financial advice more accessible and affordable to everyday people as only 8% of consumers call upon the services of financial advisers. The Financial Conduct Authority (FCA) is looking to rollout "simplified advice" ...

CSLR chief executive named

JAMIE WILLIAMSON  |  FRIDAY, 8 DEC 2023
... non-executive director. Rickard also sits on the Australian Financial Complaints Authority (AFCA) board as well as that of Super Consumers Australia, Financial Counselling Australia, and the Ecstra Foundation. In her executive career, she held senior ...

QAR final response winds clock back, says FAAA

JAMIE WILLIAMSON  |  THURSDAY, 7 DEC 2023
... the hard work and pain that has been involved in creating financial advice as a profession and winning the trust of consumers. "... There is no detail on the qualifications that would be required, however they would be substantially less than what is ...