Sat, 17th Feb 2024

In this episode, host Paige Estritori covers recent news in the financial sector. She discusses the halted plan to overhaul the fire and emergency services funding model in Tasmania and the backlash it's received so far. She moves onto the plans of the Australian Securities and Investments Commission (ASIC) to toughen regulations on the superannuation sector, motivated by arising complaints about delay in death benefit payments. Next, a study about Generation Z's financial anxiety is discussed, revealing a gender gap wherein women experience higher financial stress due to escalating costs. Lastly, she sheds light on the urgency of better protecting vulnerable, including elderly, banking customers against financial abuse concerning Power of Attorney issues. The host underlines the need for banks to refine compliance measures and enforce safeguarding practices to protect customers and adhere to the Banking Code of Practice commitments.