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Equifax duped customers, ACCC says in enforcement action
Financial Services 2018-03-16 10:23 am By Christine Caulfield

The consumer regulator has launched enforcement action against Equifax, accusing the credit reporting company of duping vulnerable customers into paying for credit reports that were only as good as its free reports.

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New rule sets standard for handling NBN complaints
Telecommunications 2018-03-15 11:09 pm By Cat Fredenburgh

Australia’s communications regulator released new proposed rules today for telcos on handling consumer complaints about migration to the National Broadband Network.

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Study blasts Volkswagen recall fix
Competition & Consumer Protection 2018-03-15 9:54 pm By Cat Fredenburgh

Volkswagen cars equipped with a software fix implemented in the wake of the emissions scandal are still emitting 400 percent more noxious emissions on road than in lab tests, according to a new study by the Australian Automobile Association.

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ASIC to crack down on unfair lending contracts
Financial Services 2018-03-15 4:49 pm By Christine Caulfield

ASIC put banks and other lenders on notice Thursday that unfair lending contracts aimed at small business will be an enforcement priority for the securities regulator.

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Banks slammed for uncompetitive mortgage pricing
Financial Services 2018-03-15 1:32 pm By Cat Fredenburgh

Australia’s largest banks are weak when it comes to offering competitive prices on residential mortgages, Australia’s consumer regulator said Thursday in the first review undertaken by its newly formed financial services unit.

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ACCC raises concerns over Pacific National, Aurizon deal
Competition & Consumer Protection 2018-03-15 12:22 pm By Cat Fredenburgh

The Australian Competition and Consumer Commission said Thursday that Pacific National’s proposed acquisitions of Aurizon’s Queensland intermodal freight haulage business and intermodal rail terminal at Acacia Ridge in Brisbane raises significant competition concerns.

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AWB to drop unfair contract terms that raised ACCC’s ire
Competition & Consumer Protection 2018-03-14 3:58 pm By Cat Fredenburgh

Australia’s largest agribusiness, AWB Harvest Finance Pools Pty Ltd, has agreed to make changes to the contracts it uses with farmers after the Australian Competition and Consumer Commission flagged terms of its contracts for being unfair. 

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Banks may face credit card insurance class action
Financial Services 2018-03-13 8:59 pm By Cat Fredenburgh

Slater and Gordon is mulling a class action against Australian banks over credit card insurance, which the firm describes as “worthless” and “junk” because many people who are sold the insurance are not eligible to make a claim.

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Viagogo denies ACCC’s claims of hidden, hefty fees
Competition & Consumer Protection 2018-03-13 8:57 pm By Christine Caulfield

Online ticket reseller Viagogo has shot back at the consumer regulator’s allegations that it charged hefty fees and was not upfront about it, saying in a recently filed defence that its pricing was “adequately disclosed” on its website.

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ACCC seeks more info on MYOB, Reckon deal
Competition & Consumer Protection 2018-03-13 1:52 pm By Cat Fredenburgh

The ACCC is seeking more information on accounting software company MYOB Group Limited’s proposed acquisition of Reckon Limited’s practice management group.

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