AFCA INQUIRY NOW - An e-petition to the House of Representatives
AFCA INQUIRY NOW - An e-petition to the House of Representatives
The issue
Exciting News. An e-petition to the House of Representatives has been approved thank you to all of the support we have received.
The banks continue to act unconscionably, and the Treasurer acts with willful blindness. Associate Professor Andy Schmulow has spoken out about Treasurer Dr Jim Chalmers MP reversing legislation so that bank executives cannot be held personally liable for the misconduct of their banks. This includes forging customers signatures on loans, falsifying financial that results in irresponsible lending, predatory lending, charging dead people fees and much more.
AFCA continually determines in favour of its Members contrary to law and despite the irrefutable evidence. This needs to be investigated. Please sign this petition so that there is an inquiry into AFCA and there is reform to legislation so that banks cannot automatically claim their legal fees when they caused the harm.
Introduction
We, the undersigned, call on the Australian government to hold the Australian Financial Complaints Authority (AFCA) accountable for its failures in providing fair and just resolutions for consumers where there is evidence of bank staff forging customer signatures, falsifying financial figures, irresponsible lending, insurance companies denying genuine claims, superannuation and investments missing offshore. AFCA’s actions, or lack thereof, have not only undermined the principles of procedural fairness but also disregarded the recommendations of the Hayne Royal Commission.
Background
AFCA was established to offer an impartial forum for resolving disputes between consumers and financial service providers. However, there have been numerous instances where AFCA’s decisions have been contrary to the law and the recommendations set forth by the Hayne Royal Commission. These actions have led to significant detriment to consumers, including the denial of justice and financial losses.
Key Issues
• Nonfeasance: failure of AFCA to perform an act that is required by law or duty. AFCA’s inaction in crucial cases has resulted in the denial of procedural fairness.
• Contrary Determinations: AFCA has made determinations that contravene established laws and the Hayne Royal Commission’s recommendations.
• Lack of Accountability: There is currently no effective mechanism to hold AFCA accountable.
Petition Goals
We urge the Australian government to take the following actions:
1. Provide Redress Under the Australian Consumer Law Act: Ensure consumers receive compensation and justice for the harm caused by AFCA’s failures. The Banks, Insurance and Financial Service Providers must be ordered to pay compensation for their wrong doings.
2. Amend the Land Registry Act: Require the Registrar to investigate cases of fraud and forgery thoroughly, protecting the rights and interests of all Australians.
The High Court of Australia has made orders that provide redress against the CEO’s and Executives. The High Court upheld the Federal Court's decision, finding that the College's conduct was indeed unconscionable, and that Mr. Wills was liable as an accessory. "WILLS V AUSTRALIAN COMPETITION AND CONSUMER COMMISSION & ORS; PRODUCTIVITY PARTNERS PTY LTD (TRADING AS CAPTAIN COOK COLLEGE) ACN 085 570 547 & ANOR V AUSTRALIAN COMPETITION AND CONSUMER COMMISSION & ANOR [2024] HCA 27"
In the United States, banks have been ordered to compensate customers for violations of consumer protection laws. Wells Fargo agreed to pay over $2 billion for various consumer abuses. These actions hold financial institutions accountable and protect consumers from unfair practices. On 23 January 2020, the U.S. Department of the Treasury, Office of the Comptroller of the Currency, issued orders for prohibition, cease and desist, and civil money penalty orders against the Executives. "Civil Money Penalty and Order of Prohibition (1818(e))"
The Hayne Royal Commission into Misconduct in the Banking, Superannuation, and Financial Services Industry revealed widespread misconduct. The Australian Government has an avenue to provide redress for the established and admitted unconscionable conduct of the FSP’s, including holding the CEO’s and Executives personally liable for their knowledge of the criminal activity.
In Australia, consumer protection is primarily governed by the Australian Consumer Law (ACL), part of the Competition and Consumer Act 2010. The ACL provides a national framework for consumer protection, covering unfair contract terms, product safety, and consumer guarantees. It includes, inter alia:
• A national law on unfair contract terms for standard form contracts.
• Penalties, enforcement powers, and consumer redress options. (emphasis added)
AFCA’s nonfeasance and unlawful determinations undermine trust in our financial and legal systems. Consumers deserve a fair and just process, and institutions like AFCA must be held accountable to maintain the integrity of our system.
How You Can Help
Sign this petition to demand the Australian government take immediate action to hold AFCA accountable, provide redress for affected consumers, and ensure the Registrar investigates fraud and forgery as mandated by law.
Your Voice Matters
By signing this petition, you are taking a stand for fairness, justice, and accountability. Your signature will help demand redress from those responsible for misconduct. Together, we can make a difference and ensure that the Australian Financial Complaints Authority (AFCA) upholds the principles it was established to protect.
Support our call for action to hold the Banking, Superannuation, and Financial Services industries, along with their executives, accountable.
Demand that they compensate for their wrongdoings and adhere to the law and the recommendations of the Hayne Royal Commission.
Join us in creating a more transparent, just, and accountable financial system for all Australians.
Sign the petition today and help us create a fairer, more just system for all Australians.
1,010
The issue
Exciting News. An e-petition to the House of Representatives has been approved thank you to all of the support we have received.
The banks continue to act unconscionably, and the Treasurer acts with willful blindness. Associate Professor Andy Schmulow has spoken out about Treasurer Dr Jim Chalmers MP reversing legislation so that bank executives cannot be held personally liable for the misconduct of their banks. This includes forging customers signatures on loans, falsifying financial that results in irresponsible lending, predatory lending, charging dead people fees and much more.
AFCA continually determines in favour of its Members contrary to law and despite the irrefutable evidence. This needs to be investigated. Please sign this petition so that there is an inquiry into AFCA and there is reform to legislation so that banks cannot automatically claim their legal fees when they caused the harm.
Introduction
We, the undersigned, call on the Australian government to hold the Australian Financial Complaints Authority (AFCA) accountable for its failures in providing fair and just resolutions for consumers where there is evidence of bank staff forging customer signatures, falsifying financial figures, irresponsible lending, insurance companies denying genuine claims, superannuation and investments missing offshore. AFCA’s actions, or lack thereof, have not only undermined the principles of procedural fairness but also disregarded the recommendations of the Hayne Royal Commission.
Background
AFCA was established to offer an impartial forum for resolving disputes between consumers and financial service providers. However, there have been numerous instances where AFCA’s decisions have been contrary to the law and the recommendations set forth by the Hayne Royal Commission. These actions have led to significant detriment to consumers, including the denial of justice and financial losses.
Key Issues
• Nonfeasance: failure of AFCA to perform an act that is required by law or duty. AFCA’s inaction in crucial cases has resulted in the denial of procedural fairness.
• Contrary Determinations: AFCA has made determinations that contravene established laws and the Hayne Royal Commission’s recommendations.
• Lack of Accountability: There is currently no effective mechanism to hold AFCA accountable.
Petition Goals
We urge the Australian government to take the following actions:
1. Provide Redress Under the Australian Consumer Law Act: Ensure consumers receive compensation and justice for the harm caused by AFCA’s failures. The Banks, Insurance and Financial Service Providers must be ordered to pay compensation for their wrong doings.
2. Amend the Land Registry Act: Require the Registrar to investigate cases of fraud and forgery thoroughly, protecting the rights and interests of all Australians.
The High Court of Australia has made orders that provide redress against the CEO’s and Executives. The High Court upheld the Federal Court's decision, finding that the College's conduct was indeed unconscionable, and that Mr. Wills was liable as an accessory. "WILLS V AUSTRALIAN COMPETITION AND CONSUMER COMMISSION & ORS; PRODUCTIVITY PARTNERS PTY LTD (TRADING AS CAPTAIN COOK COLLEGE) ACN 085 570 547 & ANOR V AUSTRALIAN COMPETITION AND CONSUMER COMMISSION & ANOR [2024] HCA 27"
In the United States, banks have been ordered to compensate customers for violations of consumer protection laws. Wells Fargo agreed to pay over $2 billion for various consumer abuses. These actions hold financial institutions accountable and protect consumers from unfair practices. On 23 January 2020, the U.S. Department of the Treasury, Office of the Comptroller of the Currency, issued orders for prohibition, cease and desist, and civil money penalty orders against the Executives. "Civil Money Penalty and Order of Prohibition (1818(e))"
The Hayne Royal Commission into Misconduct in the Banking, Superannuation, and Financial Services Industry revealed widespread misconduct. The Australian Government has an avenue to provide redress for the established and admitted unconscionable conduct of the FSP’s, including holding the CEO’s and Executives personally liable for their knowledge of the criminal activity.
In Australia, consumer protection is primarily governed by the Australian Consumer Law (ACL), part of the Competition and Consumer Act 2010. The ACL provides a national framework for consumer protection, covering unfair contract terms, product safety, and consumer guarantees. It includes, inter alia:
• A national law on unfair contract terms for standard form contracts.
• Penalties, enforcement powers, and consumer redress options. (emphasis added)
AFCA’s nonfeasance and unlawful determinations undermine trust in our financial and legal systems. Consumers deserve a fair and just process, and institutions like AFCA must be held accountable to maintain the integrity of our system.
How You Can Help
Sign this petition to demand the Australian government take immediate action to hold AFCA accountable, provide redress for affected consumers, and ensure the Registrar investigates fraud and forgery as mandated by law.
Your Voice Matters
By signing this petition, you are taking a stand for fairness, justice, and accountability. Your signature will help demand redress from those responsible for misconduct. Together, we can make a difference and ensure that the Australian Financial Complaints Authority (AFCA) upholds the principles it was established to protect.
Support our call for action to hold the Banking, Superannuation, and Financial Services industries, along with their executives, accountable.
Demand that they compensate for their wrongdoings and adhere to the law and the recommendations of the Hayne Royal Commission.
Join us in creating a more transparent, just, and accountable financial system for all Australians.
Sign the petition today and help us create a fairer, more just system for all Australians.
1,010
The Decision Makers
Supporter voices
Petition created on 15 December 2024