Ten years ago, SOCAP Australia undertook a Consumer Emotions Study which shed new light on the interaction between consumers’ emotional responses and their loyalty to an organisation. Freya Purnell revisits the research, and finds out how changes in technology and societal norms have impacted the way consumers express their emotions.
The following members have had their FDR membership terminated because they failed to abide by the Reserve Scheme Rules
The consultation draft of the Credit Contracts and Consumer Finance Bill ("the bill") has been released. It proposes wide-ranging changes to the law and has implications reaching beyond just providers of consumer credit.
Many members will say they have never had a complaint, and are unlikely to. Most consumers think that the whole business of making a complaint is too hard-from who to talk to with authority, to formulating a written commentary that is going to be taken seriosuly. Both parties are missing each other and missing a golden opportunity to improve their lot - if only they understood that it is not as hard as it seems.
FDR's Annual Report for the year ended 30 June 2012 reports increasing complaint enquiry and dispute resolution, the benefits of early intervention, some interesting case studies, a growing memberships, low consumer awareness and a concern at some systemic issues presenting.
A group of specialised complaint handling organisations has developed resources for teaching the language of complaint to new speakers of English. The resources are available free online for anyone to use.
The overwhelming majority of complaints received in the 12 months to 30 June have been about financial service providers' failure to follow their customers instructions, making unauthorised transactions on their customers accounts or customers are not happy about their financial provider's decision.
Yet we found that in most cases the scheme member was acting within the terms and conditions that their customer had willingly and often over exuberantly entered into with them.