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Review of the Australian Financial Complaints Authority

The submission to the Department of Treasury in relation to its review of the Australian Financial Complaints Authority (AFCA) was prepared by the Law Council of Australia. 

The Law Council supports AFCA as the primary means of resolving most financial services disputes, particularly low value claims, and believes that a properly funded AFCA has the potential to result in improved outcomes for consumers by reducing the time associated with resolving financial complaints.

This submission has regard to the Terms of Reference established by the Treasury and has been prepared with the view to contributing to the continuing improvement of AFCA. To this end, the Law Council has made the following recommendations:

You can read the full submission below.
 

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