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If Gillian Brown continues paying premiums on her funeral insurance at the current rate, the 71-year-old pensioner will have paid […]

The Consumer Action Law Centre has concerns that the Quality of Advice Review draft terms of references forget Commissioner Hayne's findings on conflicted remuneration.

ASIC sues Westpac over 'junk' credit insurance sales tactics Posted 2 updated 1 AprApril 2021 at 5:21am Westpac is being taken to the Federal Court by ASIC over its sale of consumer credit insurance. ( Share Print text only Cancel A controversial practice where consumers are sold "junk insurance" when they go to take out a home loan, credit card, or even buy a plane ticket, will be scrutinised in court, following action by the corporate regulator against Westpac. Key points: ASIC is suing Westpac over its sale of consumer credit insurance in 2015 to almost 400 customers The practice saw c...

Banking royal commission recommendations flounder, two years on Posted WedWednesday 3 updated ThuThursday 4 FebFebruary 2021 at 1:44am The Government has, on some counts, only implemented just over a third of Kenneth Hayne's recommendations so far. ( Print text only Key points: Of its 76 recommendations, only about one-third have come into law Some key protections have been downgraded or abandoned Two years ago, the final report of the banking royal commission exposed a culture of rapacious greed, of profits and shareholders being put before customers and the law. But there has been slow pro...