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Showing 651 - 660 of 7373 results for "Consumer"

2024 to be a watershed year: FAAA

JAMIE WILLIAMSON  |  THURSDAY, 11 JAN 2024
The Financial Advice Association Australia (FAAA) expects a year of positive change, including cutting costs for advisers, greater engagement with consumers, and rising adviser numbers. Outlining its priorities and expectations for 2024, the FAAA has ...

Inflation eases to 4.3%

KARREN VERGARA  |  WEDNESDAY, 10 JAN 2024
Inflation declined to 4.3% in the year to November 2023, easing from 4.9% in October. The latest data from the Australian Bureau of Statistics (ABS) found that the rising costs of housing (up 6.6%), food and non-alcoholic beverages (up 4.6%), insurance ...

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
... from $5400. AFCA adjusts its monetary limits every three years in line with the higher of the percentage increase in the Consumer Price Index and the Male Total Average Weekly Earnings. Since its inception, AFCA said it has recouped $1.2 billion in compensation ...

ASIC extends intervention orders against predatory lenders

CHLOE WALKER  |  MONDAY, 8 JAN 2024
... products charged significant fees, which further burdened them. "Since the orders came into effect, they have reinforced consumer protections by preventing the provision of short-term credit and continuing credit contracts that involve unreasonably high ...

Zurich cleared by Federal Court in life insurance dispute

ANDREW MCKEAN  |  MONDAY, 8 JAN 2024
Zurich Australia has been cleared of breaching its duty of utmost good faith by the Federal Court, in a case connected to OnePath Life's avoidance of an income protection policy. The case marks ASIC's first attempt to impose a civil penalty under s13 ...

Fee consent forms, FDS overhaul concerns FAAA

KARREN VERGARA  |  MONDAY, 18 DEC 2023
The Financial Advice Association of Australia (FAAA) expressed concerns about Treasury's proposal to abolish fee consent forms and Fee Disclosure Statements (FDS) in its response to the first round of reforms. Currently, advisers must produce an annual ...

ASIC, APRA slam premium hikes

KARREN VERGARA  |  FRIDAY, 15 DEC 2023
... level premiums, while others are more often increasing base rates for level premiums than stepped premiums. "Despite consumer expectations that level premiums are more stable than stepped, only one life company made the conscious decision to keep increases ...

BT signposts key issues for advisers in 2024

ANDREW MCKEAN  |  THURSDAY, 14 DEC 2023
... commercial property into SMSFs will be top of mind for advisers and their clients, with high inflation rates and reduced consumer spending in some sectors are biting into the revenues of small businesses - prompting business owners to ease cash flow ...

Mild recession in 2024, higher interest rates: Vanguard

KARREN VERGARA  |  WEDNESDAY, 13 DEC 2023
Vanguard predicts that developed countries will grapple with "mild recessions" in 2024 as they manage a "higher-for-longer" interest rate environment. The global fund manager warned in its A return to sound money report that interest rates will remain ...