Thu, 10th Oct 2024

In this episode of the Daily Financial Services News Wrap by Financial Services Online, we discuss 360 Underwriting Solutions' new insurance product for schools, Australia's ongoing economic slowdown, the benefits of professional financial advice, and a recent ASIC investigation into major Australian banks' excess charges. The episode highlights a new safety net for Australian schools known as "360 School Fee Protect," backed by Lloyd's Syndicate 4444. It also casts light on Australia's economic challenges, with both household consumption and disposable income falling. The importance of professional financial advice during stressful financial times is explained through a review by the Financial Advice Association Australia. Lastly, the episode reveals an ASIC investigation into high fees charged by major Australian banks on low-income accounts, resulting in $28 million refunds to nearly two million Australians.n