The Australian Financial Complaints Authority (AFCA) is a independent external dispute resolution (EDR) scheme. AFCA replaces the Financial Ombudsman Service (FOS), the Credit and Investments Ombudsman (CIO) and Superannuation Complaints Tribunal (SCT) providing a one stop shop for consumers to access EDR. AFCA provides fair and independent financial services compliant resolution that is free to consumers. Consumers can lodge a dispute against member financial service providers online.
Australian Legal Centres
CCLSWA is pleased to have contributed to the joint submission on the Establishment of the Australian Financial Complaints Authority Consultation Paper submitted to Treasury in November 2017.
For those who know the sting of repaying pay day loans, good news may be arriving. The Federal Government is currently drafting legislation designed to help protect vulnerable Australians from the harsh conditions which apply to these loans that they are often unaware of when signing. (more…)