The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry delivered its final report on 1 February. AFCA welcomed the recommendations made by Commissioner Hayne as well as the Government’s acceptance of its recommendations. AFCA stands firmly on the side of fairness and we believe these recommendations are critical to ensuring that customers and small businesses are treated fairly.
The Australian Government has set up a fund to pay consumers and small businesses who had determinations from the Financial Ombudsman Service (FOS) and Credit and Investments Ombudsman (CIO) but never received payment.
If you were awarded a determination by FOS or CIO that was not paid, you may eligible to receive payment under this fund.
Media releases related to the Royal Commission: