The Australian Financial Complaints Authority Faces Scrutiny
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- Опубліковано 25 чер 2024
- The Australian Financial Complaints Authority (AFCA), an independent industry-funded agency, handles complaints concerning financial losses due to actions by banks, insurance companies, or superannuation funds. While AFCA has a reputation for avoiding complaints rather than addressing them, their recent accomplishment of collecting $300 million for members of the public affected by financial misbehaviour is a good result.
My questioning of AFCA didn't start smoothly, as CEO David Locke seemed unaware that the AFCA website explicitly asks that individuals with concerns about a code of practice to submit them via the form provided, as part of their role overseeing the Banking Code of Practice review body, the BCCC.
It took until around the 2 minutes 52 seconds mark to receive a response to what, I thought, was a straightforward opening question. Subsequently, I pursued questions regarding AFCA's success rates.
A significant portion of their response was taken on notice, so I look forward to receiving their answers.
Closure of rural branches? What a bloody great joke!
Thank you Malcolm.
These people who are to answer the questions never seem too, and there are always multiple clowns to pass the the buck around amongst themselves.
No Respect for those
who give no respect to "the people."
Good work Senator Roberts. Thank you for your work on behalf of all Australians and Australia.
"Independent" - JOKE they are taxpayer funded public servants professing to uphold "law" of the Building Code. They are an arm of the Banking Sector protecting foreign transnational Banksters!
They are playing "Judge" and "Jury". . . .but how many of these taxpayer funded public servants are associated with the VERY Banks they "investigate". We need to see their names so we can get a copy of their professional resumes. AGAIN. Amazing stuff. What a coincidence. It's almost like they were installed by the Senior Executive Service - SERCO appointments. Why do they always have British accents. . . oh wait ! Bank of London. . . .oh wait ! SERCO. . . . . I want to know what investigative experience they have.
Zero respect for those from the lodges… WE SEE YOU!!
Your few words said it all. ❤
Pedo freaks
I used AFCA, took it to finding. I won, bank lost. I’m now bound by confidentiality, bank got minuscule slap on wrist. It took 2 years to resolve, a lot of energy and lucky I had the skill set to see it through. I had no chance of solving this without them, however virtually no impact to bank and I can’t even tell anyone details about my win and their loss.
I’ve found if you want to complain the process is difficult to the point where you give up, if it is compliments it’s easy, typical of everything in this world of lies and twisted data.
Westpac just closed the only bank in Tennant Creek.
Look into the major shareholders of nearly all our financial institutions. Not Australa.
They are all crooks
It is so hard to make a complaint. Or getting any response.
And the ABA is so squeaky clean....
So there's no disincentive for banks to do the wrong thing. There's no slap for misbehaving. There's only a system that encourages people to give up and eventually silenced after a conclusion has been reached.
Commonwealth bank has never helped me when i owned the financial ecosystem used by the ASX and By the RBA! Shame on these people! I am back home in The Republic of the Philippines after assaulted victimised. Ramfel Pacifico-Huggins.
Usury, too bad they don't know what that is; because I want my money back.
These public servants, are always a certain type of person, never anything else.. What a disgrace they are. Their eyes tell it all..
They work half a day less and productivity goes up, moral goes up, satisfaction goes up... Imagine how great it will be if they work 1 day a week.
All they do is take complaints piss weak
AGAIN… why are there 2+ government departments involved in what should be singular department related to banking/financial regulation???
Wankin code they wrote their own code.
Who do you think this person works for? Bank or Person? Bank or government?
The WEF, UN.
The Englishman is not guilty of financial extortion. Next question😅
JOKE
If only front line workers were afforded such 'quiet time'. Try working in a busy ED or ICU in full, breath taking PPE and then discuss the difficulties during CoNvid!!!