Reports and Submissions

Read the latest reports and submissions from FCVic on a range of topics significant to financial counsellors, consumer advocates and the wider community.

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Submission to the Inquiry into Climate Resilience

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We welcome the opportunity to provide a submission to the Committee’s Inquiry into Climate Resilience. Our submission focuses on areas that are relevant to our financial counselling advocacy work on disaster recovery in Victoria and is informed by what our members have told us about the needs of vulnerable Victorian clients who are struggling after a natural disaster.

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Submission to the Australian Energy Regulator’s Review of payment difficulty protections in the NECF

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We welcome the opportunity to provide a submission to the Australian Energy Regulator’s Review of payment difficulty protections in the NECF.

Our submission is informed by what our members have told us about the needs and experiences of vulnerable clients within the Victorian energy market. We give special thanks to the members of the FCVic Utilities Working Group for sharing their expertise, experience with the most vulnerable consumers, and recommendations for regulating essential services and ensuring that they are fair for all.

We note that the Victorian energy market operates under a different set of state-based consumer protections rather than the NECF, and as such, the context of our commentary and recommendations is most relevant to Victorian experiences through the Victorian Payment Difficulty Framework rather than national experiences.

However, we understand that consumer experiences of high energy costs and poor hardship practices are universal. Our submission is written to support opportunities to ensure that nationally and consistently, consumer interactions with the energy market are improved and the most vulnerable consumers are protected.

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Submission to the Parliamentary Inquiry into the financial services regulatory framework in relation to financial abuse in Australia

  • Published: 14 June 2024
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We welcome the opportunity to provide a submission to the Parliamentary inquiry into the financial services regulatory framework in relation to financial abuse.

Our submission is informed by what financial counsellors have told us about the needs of vulnerable clients who have experienced financial abuse. We provide an overview of what is working well, and ideas for redesigning systems and services to ensure that both prevention and recovery are key focuses.

We give special thanks to the following financial counsellors for their significant contributions to this submission, captured in the section titled “Voices of Financial Counsellors”:

  • Elizabeth Stary
  • Kylie McLoughlin
  • Bernadette Pasco
  • Jackie Smith
  • Bronwyn Davis
  • Merlene Price
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Stronger than Before: Rebuilding financial resilience for older bushfire residents –Evaluation of Year Two

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The FCVic Evaluation Full Report for Year 2 of the Stronger than Before project provides valuable insights into the ongoing efforts to rebuild financial resilience among older bushfire residents. Here’s a breakdown of the key points highlighted in the report:

  1. Continuation of Service Provision: Year 2 of the Stronger than Before project focused on rural service provision and outreach in Alpine-Towong and East Gippsland, areas heavily impacted by bushfires. Additionally, the project expanded its scope to encompass 18 fire-affected local government areas (LGAs), demonstrating a commitment to broader community support.
  2. Objective and Scope: The primary goal of the program was to enhance the capacity to respond to the risk of financial elder abuse post-disaster. The report underscores the various factors contributing to the vulnerability of older individuals living in remote areas, including cost of living, limited income support, lack of community connections, health issues, and challenges related to digital access.
  3. Vulnerability Factors: The report emphasises that disasters exacerbate the vulnerability of older individuals to financial elder abuse, particularly when social support systems are weakened. Rurality, in itself, serves as a significant driver of vulnerability due to factors such as limited transportation options, low digital inclusion, and reduced availability of local businesses and social services.
  4. Role of Financial Counsellors: Financial Counsellors are recognised as playing a crucial role in assisting older individuals at risk of financial elder abuse. Collaborative efforts with FCVic, the peak body representing financial counsellors, are highlighted as cost-effective measures that provide access to local services across all disaster recovery areas, maximising reach and impact despite sector funding constraints.
  5. Community Awareness: Despite the importance of financial counselling for older individuals at risk, the report indicates that awareness of this support remains low within communities. It suggests prioritising intermediaries and service providers who interact with older demographics, such as those in libraries, health, allied health, and home care, to increase awareness of professional financial counselling services.

Overall, the report underscores the ongoing challenges and efforts in rebuilding financial resilience among older bushfire residents, emphasising the critical role of financial counselling services and the need for greater community awareness and support.

FCVic would like to thank the financial counselling services across the state who have contributed to financial elder abuse prevention and intervention work, Cath Smith Consulting for evaluating the program and DFFH for the funding.

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Submission to the Independent Review of the 2020 General Insurance Code of Practice

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FCVic welcomed the opportunity to provide a submission to the first phase of the Independent Review (the Review) of the 2020 General Insurance Code of Practice (the Code). Our submission is informed by what our members have told us about the needs of vulnerable Victorian clients who are struggling with insurance issues – mostly after a natural disaster, but more general insurance issues as well. We note that the second phase of the Review will have a specific focus on flood related topics, and intend on providing a further submission to this phase of the Review.

We give special thanks to financial counsellors Emma Brelsford, Kellie Davis, Lylia Martion, Bridget Morcom and Laura Powell for their significant contributions to this submission. We also thank members Lisa Stoddart, Leonie Cook and Kathryn Swinton for their contributions over the years and University of Melbourne researcher Dr Antonia Settle for her expertise in cash settlements.

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Supplementary submission on the draft decision for the Victorian Default Offer 2024-25 

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This is a supplementary document to a joint submission with other consumer advocacy bodies on the draft decision for the Victorian Default Offer (VDO) 2024-25.

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