As the situation around COVID-19 evolves we recognise this is a very worrying and challenging time for all of our members, your employees and families. The financial services industry has never been more important, and I would like to assure you that AFCA will work with you constructively through this period.
We know many of you are already working remotely, and this can create difficulties to your usual workflows and outputs. AFCA is committed to finding solutions that recognise these circumstances. We are also modifying our approach to dispute resolution to take into account all the regulatory and legislative changes announced as part of Australia’s COVID-19 response. AFCA’s approach will align directly with those of ASIC and APRA.
Additionally, we will also take into account the circumstances and context in which lenders and other financial firms are currently operating when considering complaints. We understand that firms may be putting in place alternate staffing arrangements and may not be in a position to act as quickly as usual on requests for information.
We are deferring our member forums, group liaison meetings and these will be replaced by webinars and will be rescheduled with details to come later.
All our staff will also be moving to a work-from-home model from tomorrow, 25 March. I can assure you that we are well equipped to support this. AFCA’s main phone number (1800 931 678) and the new COVID-19 hotline (1800 337 444) will continue to operate while our staff work from home. You can also reach us on our membership line (1300 565 562) directly for any member inquiries.
We know these times will bring many challenges, and I would like to reassure you that we are here to help.
In the meantime, AFCA encourages financial firms to continue to:
- Work constructively and reasonably with affected consumers and small businesses during any period of disruption, particularly consumers and small businesses in hardship, or who may be experiencing difficulty repaying debt.
- Openly and transparently communicating with consumers and small businesses about any delays they may experience in decision making, claims or complaints handling caused by the impact of COVID-19 on their business.
- Contact AFCA as soon as possible if you require support or for a discussion around timeframes
We are keen to stay connected with you, and to keep you informed and supported as best we can during this time. Any member updates will be shared on our website as well as our member portal. We will also share any event updates on our events page. I also encourage you to visit our COVID-19 information hub for latest updates on this evolving situation.
I thank you for your ongoing support and patience with us as we work together in this rapidly changing landscape.