Tue, 27th Feb 2024

In this podcast, Paige Estritori shares key updates from the financial sector on behalf of Financial Services Online. Medibank faces legal battles concerning privacy issues with the Federal Court denying an injunction requested by the firm to cease an Australian Information Commissioner probe into a data breach. A surge of 40% in financial hardship violations in the banking sector is reported, with complaints including delays in aid requests and aggressive collection efforts. In superannuation tax reform news, the government's proposed hike to 30% on super savings exceeding $3 million receives criticism, although analysis suggests it will have minimal impact on most people. Lastly, mid-sized businesses in New South Wales can expect changes in workers' compensation as insurer icare unveils a major revamp of its scheme starting in June.n