The “One Stop Shop”: The Creation of ACFA
The 2017/18 Budget announced the creation of a new Australian Financial Complaints Authority.
The initiative is designed to resolve disputes between small businesses, consumers and banks.
As Revenue and Financial Services Minister Kelly O’Dwyer notes, the bill creating the authority will create “strengthened governance” and greater transparency for dispute resolution.
But what will it do and how is it already dealing with its critics?
Kate Carnell, the Australian Small Business and Family Enterprise Ombudsman joined reporter Hans Lee to talk about the new organisation and what it aims to achieve.
Originally aired: 14th September 2017