financial regulation

Australia’s largest superannuation fund, Australian Super, is facing legal action from the Australian Securities and Investments Commission (ASIC) for significant delays in processing thousands of death benefit claims. ASIC alleges that Australian Super failed to handle claims “efficiently, honestly and fairly” between July 2019 and October 2024, leaving deceased members' families waiting for payouts that sometimes took years to process.

The Biden administration is finalizing a transformative rule to remove unpaid medical debt from credit reports, aiming to improve financial accessibility for millions of Americans. This significant change is expected to enhance credit scores for those burdened by medical expenses, facilitating access to loans and mortgages. The new regulation reflects growing concerns about healthcare costs and their impact on financial health, especially for vulnerable populations. While some policymakers raise accuracy concerns, advocates emphasize the necessity of this rule to alleviate financial burdens stemming from unexpected medical expenses. Learn more about the implications of this policy and its role in promoting a fairer financial landscape.