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CALL FOR REVIEW OF HARDSHIP

THE Australian Financial Complaints Authority (AFCA) supports ASIC's call for lenders to better assist customers facing financial hardship. ASIC's report highlights lenders' shortcomings in providing adequate hardship support. AFCA's data shows a 25% increase in financial difficulty complaints in 2023, with a third related to home loans. AFCA urges lenders to offer individualized assistance and avoid "cookie cutter" responses. AFCA continues to monitor these trends to address systemic issues.


editor

Publisher
Michael Walls
michael@accessnews.com.au
0407 783 413

Access News is a print and digital media publisher established over 15 years and based in Western Sydney, Australia. Our newspaper titles include the flagship publication, Western Sydney Express, which is a trusted source of information and for hundreds of thousands of decision makers, businesspeople and residents looking for insights into the people, projects, opportunities and networks that shape Australia's fastest growing region - Greater Western Sydney.