Alternate Dispute Resolution- AFCA

The Australian Financial Complaints Authority or AFCA is an external dispute resolution scheme for consumers who are unable to resolve complaints with member financial services organisations. AFCA considers complaints that previously would have been handled by the Financial Ombudsman Service, the Credit and Investments Ombudsman and the Superannuation Complaints Tribunal.

 

AFCA will consider complaints about:

• Credit, finance and loans and insurance

• Banking deposits and payments

• Investments and financial advice

• Superannuation

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Following the Financial Services Royal Commission in 2019, there has been a significant increase in the number of financial service class actions. Where you do not form part of a class group, you may be able to have your complaint determined by AFCA. 

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