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Credit Score
How to fix credit report errorsWhile it’s not that common, it is possible for your credit report to contain mistakes. If you think there’s a mistake on your credit report, there are steps you can take to make sure it is corrected.
Eden Radford -
12 Apr, 2024 -
3 min read
Home Insurance
Insurance pushing cost of living upwards – how’s your cover?It may surprise no-one to learn that Australia’s cost of living has increased over the past quarter. However, it was higher insurance premiums across house, home contents and motor vehicles that contributed to some of the largest price rises. Which could mean now is as good a time as ever, to be looking carefully at your current policies and comparing some alternatives to see if you could be getting better deals.
Mark Bristow -
08 Feb, 2024 -
3 min read
Car Insurance
Are you paying an insurance loyalty tax?ASIC commenced civil penalty proceedings in the Federal Court last week, claiming some insurers used an algorithm to determine whether or not a customer might renew their policy at different premium levels.
Peter Terlato -
05 Sep, 2023 -
4 min read
Savings Accounts
ASIC sounds alarm about market research scamAustralia��_s financial services regulator has warned consumers about a scam that is pretending to recruit people for market research gigs. ASIC said that some cold-callers are claiming to be organising a ��_shadow shopping��_ or ��_mystery shopping��_ project for ASIC _ that is, recruiting people to purchase services such as financial advice to help assess the standards in the market.
Nick Bendel -
14 Feb, 2018 -
2 min read
Savings Accounts
ASIC reveals five-step plan for financial successASIC, the financial services regulator, has urged Australians to start the new year by setting financial goals and taking control of their money.
Nick Bendel -
29 Dec, 2017 -
3 min read
Savings Accounts
Shoppers using buy now pay later risk “inflated prices”, regulator warnsShoppers using services including AfterPay, Zip Pay and Certegy risk paying inflated prices, the financial regulator has warned, as merchants could try to recoup some money.
Tony Ibrahim -
19 Nov, 2020 -
4 min read
Investment Funds
CBA cops $20m hit in bank bill swap rate caseCommonwealth Bank has entered into a court-enforceable undertaking with ASIC over its participation in the setting of the bank bill swap rate (BBSW).
Nick Bendel -
11 Jul, 2018 -
2 min read
Investment Funds
Overseas scammers targeting Australian investorsAustralia’s financial services regulator has warned people to avoid “scammers” connected to Luxembourg Offshore Banking, also known as LUXOSB Limited.
Nick Bendel -
30 Dec, 2018 -
2 min read
Home Loans
ASIC accuses CBA of unconscionable conductThe Australian Securities & Investments Commission (ASIC) has taken the Commonwealth Bank of Australia (CBA) to the Federal Court over allegations of unconscionable conduct and market manipulation.
Mark Bristow -
31 Jan, 2018 -
2 min read
Home Loans
Bank admits overcharging offset account holdersMyState Bank has refunded more than $230,000 in over-charged interest and fees to about 1,040 customers with mortgage offset accounts.
Nick Bendel -
27 Jul, 2017 -
2 min read
Home Loans
Westpac to refund $11 million back to customersAustralian Securities & Investments Commission (ASIC) has announced that Westpac will refund $11 million to 13,000 owner-occupier home loan customers.
Alex Ritchie -
15 Dec, 2017 -
2 min read
Car Loans
QBE refunds car insurance after ASIC reviewInsurance provider QBE has paid out $15.9 million in refunds to car insurance customers who were receiving little to no benefit from their policies, following a review from the Australian Securities & Investments Commission (ASIC).
Mark Bristow -
03 Aug, 2017 -
2 min read
Car Loans
Car loan provider slugged $11m for lending violationsMotor Finance Wizard will pay more than $11 million to address concerns about its lending practices.
Nick Bendel -
26 May, 2017 -
2 min read
Car Loans
Car customers get $72.7m of refundsAustralia��_s financial services regulator has targeted ANZ, Allianz, Suncorp and National Warranty Company for questionable car loan, insurance and warranty practices.
Nick Bendel -
19 Jan, 2018 -
4 min read
Credit Cards
CBA faces $10m bill for ripping off customersCommonwealth Bank will refund about $10 million after selling unsuitable consumer credit insurance to tens of thousands of Australians.
Nick Bendel -
15 Aug, 2017 -
2 min read
Credit Cards
ANZ and Westpac refund millions to credit card holdersASIC has announced that ANZ and Westpac will give a combined $21 million back to credit card customers, following concerns about their lending practices.
Alex Ritchie -
08 Feb, 2018 -
2 min read
Credit Cards
ACCC and ASIC team up to help Indigenous AustraliansA three-year action plan has been put forward to help Indigenous Australians with consumer issues.
Alex Ritchie -
27 Sep, 2017 -
2 min read
Bank Accounts
CBA, ANZ, NAB, Westpac and AMP have "conflicts of interest" when giving advice: ASICCan you trust your bank to give you the most unbiased financial advice? ASIC isn��_t so sure.
Alex Ritchie -
25 Jan, 2018 -
2 min read
Bank Accounts
"Unacceptable delays" in financial breach reporting, says ASICAustralia's financial institutions are in the wrong, as ASIC cites "serious and unacceptable delays" for identifying and correcting breaches of the law.
Bria Horne -
01 Oct, 2018 -
3 min read
Bank Accounts
Financial literacy programs making a difference for kidsIn good news for parents and teachers, an independent evaluation of ASIC��_s MoneySmart Teaching Program has found that it yielded strong results amongst students learning financial literacy.
Alex Ritchie -
12 Dec, 2017 -
2 min read
Personal Loans
Court penalises home appliances business for leasing breachesThe Federal Court of Australia has ordered a $2 million penalty against Thorn Australia Pty Ltd's Radio Rentals for contravening its responsible lending obligations. The court found that ��_Thorn failed to make the necessary inquiries and take steps to verify the financial situation of its customers, and failed to conduct a proper assessment of the suitability of the leases it provided,��_ according to ASIC, Australia��_s financial services regulator.
Nick Bendel -
17 May, 2018 -
2 min read
Personal Loans
Consumer credit insurance confusion spurs ASIC overhaulThe Australian Securities & Investments Commission (ASIC) has commenced work with representatives from the banking industry on reforming Consumer Credit Insurance (CCI) in Australia.
Mark Bristow -
02 Aug, 2017 -
3 min read
Personal Loans
Boss of dodgy payday lender cops punishmentA financial services director has been banned from engaging in credit activities after being found guilty of running an unlicensed payday lending business.
Nick Bendel -
09 Oct, 2017 -
2 min read
Superannuation
Super trustees in breach of transparency requirementsTo ensure compliance with transparency requirements around super fund websites, the Australian Securities & Investments Commission (ASIC) has intervened in relation to 21 of Australia��_s superannuation trustees.
Mark Bristow -
05 Jul, 2017 -
2 min read
Superannuation
Throwing people on smoker policies earned seven superannuation companies millions: ASICSeven superannuation companies have been caught overcharging customers by defaulting them onto health policies for smokers, leading to a multimillion dollar windfall.
Tony Ibrahim -
10 Aug, 2020 -
3 min read
Superannuation
ASIC makes super fees more transparentThere��_s about to be a change in the way superannuation and managed investment funds disclose their fees and charges.
Nick Bendel -
29 Aug, 2017 -
1 min read
Cryptocurrency
ASIC releases rules for finfluencersThe Australian Securities and Investments Commission (ASIC) has released information outlining what’s expected from finance influencers (finfluencers) in order to comply with financial services laws and regulations.
Mark Bristow -
21 Mar, 2022 -
3 min read