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Showing 1 - 10 of 105 results for "Financial hardship"

Auditors lambast mandatory climate reporting requirements

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
... climate reporting Bill is fit purpose. I'm certain they don't want to send smaller business into unnecessary financial hardship as a result of these planned new reporting requirements." Meantime, Australian Securities and Investments Commission (ASIC) ...

AFCA reports unprecedented complaint spike

ANDREW MCKEAN  |  TUESDAY, 9 JAN 2024
... increase from the previous year's figures. This escalation was driven by an alarming rise in scam-related and financial hardship complaints. AFCA registered 8987 complaints related to scams, up 95% from the previous year, while complaints involving financial ...

Young women report low financial literacy: NAB

CASSANDRA BALDINI  |  FRIDAY, 24 NOV 2023
Young Australian women are reporting lower financial literacy levels and are at greater risk of financial hardship, according to new NAB research. NAB's Financial hardship survey, revealed the most significant dip in financial literacy is seen in ...

Financial hardship neglect lands Westpac in court

KARREN VERGARA  |  TUESDAY, 5 SEP 2023
... hardship notices within 21 days as required by law. Between 2015 and last year, 229 customers experiencing financial hardship - many of whom were unable to work or had serious medical conditions or carer responsibilities - were ignored by the bank. In ...

ASIC sues debt management firm, director

CHLOE WALKER  |  THURSDAY, 10 AUG 2023
... has alleged that between April 2020 to June 2022, Solve My Debt Now exploited customers who were experiencing financial hardship by offering to manage their debt. In many cases, however, My Debt Now failed to pass on its customer's payments to creditors ...

Labor strengthens economic equality initiatives

KARREN VERGARA  |  TUESDAY, 9 MAY 2023
... achieve better outcomes, including for victim-survivors. Given that single parents can face higher rates of financial hardship and barriers to employment as they navigate the significant costs and responsibilities associated with caring for and raising ...

Early super release scheme a mistake: ISA

ANDREW MCKEAN  |  FRIDAY, 17 MAR 2023
... major cities. Although the early release of super was intended to provide relief to Australians experiencing financial hardship as a result of the pandemic, the study also found many used withdrawn funds for non-essential purchases such as takeout food ...

FSC adds to Life Insurance Code of Practice

CHLOE WALKER  |  TUESDAY, 25 OCT 2022
... including enabling early recognition of affected customers and promoting, enabling and arranging access to financial hardship help, and referring customers and employees to specialist support services. If applicable, insurers' policies should also include ...

Financial literacy in Australia drops by almost 10%

CASSANDRA BALDINI  |  TUESDAY, 6 SEP 2022
... longer-term savings goals, is as important as ever. The report also revealed that 13.4% of Australians have received financial hardship assistance within the last 12 months. A total of 43% of respondents between 18-24 said that they could not meet their ...

A sensible roadmap: Industry responds to QAR paper

JAMIE WILLIAMSON  |  MONDAY, 29 AUG 2022
... financial counsellors assist people who have received poor financial advice and as a result are experiencing financial hardship. A best interests duty means it is less likely that poor advice is provided."
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