• News • Greg Ashe
With the end of July fast-approaching, many in the industry - Aggregators, Lenders, Industry Bodies etc - are already asking for confirmation that memberships have been renewed.
Problem is that AFCA launched a new version of its member portal last month and it's been a total mess. Some members have not been able to get in. Some members are able to get in but are not able to access their correct details or complaints histories.
In other cases, the system is sending out messages about authorisations being cancelled that were never made in the first place.
But the worst thing about this - a bit like the ASIC attempted cover-up of the Levy debacle for mortgage brokers that QED uncovered earlier this month - is that AFCA has said NOTHING about this. It has remained completely silent about the whole affair, hoping no one would notice.
Maybe that's fair enough, considering that AFCA is of little concern to the mortgage broking industry - complaints about brokers make up about one-hundredth of a percent of all of AFCA's complaints. But that's not the point.
Here, again, we have a supposedly "key" regulator (the famous Turnbull-ScoMo "one-stop-shop" for complaints to try and ward off the Labor cat-calls for a Royal Commission) acting with utter deceit and contempt of those over whom they presume to preside.
It's a disgrace and they really need to take a long, hard look at themselves as does the Finance Minister.
