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Insurers warned against offering dodgy cash settlements

The financial regulator has found insurers often offer cash payouts to repair damage based on a single quote, which can leave customers out of pocket.

Cash settlements on home insurance claims leaving vulnerable Australians short-changed, Asic says

Cash settlements on home insurance claims leaving vulnerable Australians short-changed, Asic says

Corporate regulator finds insurers settling most claims with cash rather than by managing repairs or rebuilding, warning of ‘unfair outcomes’ for homeowners

The Guardian - AU

Car insurance customers in the dark about fee hikes

Car insurance customers in the dark about fee hikes

Car insurance premiums surged eight per cent while the broader consumer price index rose three per cent, in part due to a surge in vehicle theft in Victoria.

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Car owners should challenge insurers on steep price hikes and ‘call their bluff’, Asic says

Regulator finds many insurers raising premiums faster than inflation and advises customers to ask for better deals

The Guardian - AU

'It breaks your heart': scammers fake a real economist

A well-known economist has spoken about his experience of being impersonated by scammers, warning vulnerable Australians not to fall for their tricks.

Australia's car loan trap: industry warned to be 'fair'

The findings of a major report on car financing in Australia aren't pretty, leaving the industry body to make clear that customers must be treated fairly.

Gen Z bombarded by fake crypto trading scams

"If it sounds too good to be true, it probably is", is the advice being given to young people amid a surge in scams involving fake crypto trading platforms.

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ASIC Issues Warnings To Aussie ‘Finfluencers’ Over Alleged Unlicensed Financial Advice

ASIC Issues Warnings To Aussie ‘Finfluencers’ Over Alleged Unlicensed Financial Advice

The four finance influencers are suspected of providing “misleading and deceptive” advice on social media.

Watchdog puts bite on 'finfluencers' deceiving Gen Z

Watchdog puts bite on 'finfluencers' deceiving Gen Z

The financial services watchdog has sent warnings to social media accounts providing deceitful advice on platforms used by two thirds of young Australians.

Slow whistleblower reform take up in corporate sector

Slow whistleblower reform take up in corporate sector

Whistleblowers are having a harder time coming forward in some large companies that have failed to implement reforms to encourage disclosures about wrongdoing.

Banks forced to take action on high-fee accounts

Banks forced to take action on high-fee accounts

Banks must ask themselves some 'difficult questions' following a review by ASIC, which has resulted in refunds totalling millions for low-income customers.

Crying poor claim as insurers accused of price gouging

Crying poor claim as insurers accused of price gouging

A crackdown on how insurers respond to climate change has been declared by the corporate watchdog, as a union accuses some of the biggest firms of crying poor.

Banks lashed for ripping off poorer customers

Banks lashed for ripping off poorer customers

The market watchdog has slammed four major banks for causing financial distress to more than two million Australians by systematically overcharging on fees.

'Abandoning customers': lenders fail battling borrowers

'Abandoning customers': lenders fail battling borrowers

Mortgage stress in Australia is at its highest level since the global financial crisis but many borrowers are finding it too hard to get help from their bank.

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Aussie nest eggs being drained by dodgy cold-callers

Workers are being warned to be wary of cold callers using dodgy tactics to bait them into switching super products at the detriment of their retirement savings.

The Guardian - AU

Urban Rampage banned from using Centrepay to sign up mostly Indigenous customers to credit arrangements

Asic finds arrangements posed ‘significant risk’ of financial hardship but clothing store says it will appeal ‘racist and paternalistic decision’

Insurers warned, but nation must mitigate for disasters

Insurers are being warned to do the right thing by customers devastated by natural disasters, but the nation must also invest in mitigation measures.

The Guardian - AU

Choice shames Coles and Woolworths with Shonky award for ‘cashing in during cost-of-living crisis’

Supermarket duopoly among consumer advocate’s list of 2023’s worst products and services, alongside rental platforms and a mini-fridge

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The Guardian - AU

Urgent scam warning as Australia’s largest loyalty point programs, including Qantas, Telstra and Coles, targeted

Customers warned to be vigilant of messages stating their rewards are expiring as pressure builds for banks to offer compensation

The Canberra Times

ACT to fork out for product advice to drive electric appliance take-up

CHOICE product test information informs a new government site.

Proposed rules on financial advice could erode consumer protections, experts say

Consumer groups have called Treasury's new financial Quality of Advice Review a "recipe for another [banking] royal commission."

Qantas results show a bounce back, but Rex soars with the best performance

Qantas clawed its way back to perform better on delays after a shocking few months as the worst-performing airline in Australia.

Choice hands Shonky awards to Qantas, VetPay, Steggles, Bloomex and Zega Digital cookware

Qantas has picked up a Shonky Award from consumer advocacy group Choice over its flight credits scheme, flight cancellations and lost baggage. A finance product for pet owners and an online florist also picked up gongs.

Qantas quibbles with Shonky gong

What does Qantas have in common with chicken nuggets? They're both among the winners of the latest Shonky Awards.

Shonky Awards: Qantas tops this year’s list of worst products and services

Qantas has come out on top of this year's list of worst products and services in the annual CHOICE Shonky Awards.

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