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Mutuals Bulletins

The Bulletins below were published prior to 1 January 2009 when the Mutuals area of the Financial Ombudsman Service was known as the Credit Union Dispute Resolution Centre.

Our publication The Circular has replaced the Bulletin. If you'd like to be notified when a new Circular or Annual Review is published, please sign up to the Financial Ombudsman Service electronic mailing list.

Bulletin 10
In this Bulletin we outline the issue of financial abuse of the vulnerable older person and possible implications on the relevant credit unions. We also make suggestions to assist credit unions with identifying when financial abuse may be occurring.

Bulletin 9
This Bulletin covers recent changes to CUDRC's Terms of Reference following recommendations made by the Independent Review of the Scheme.

Bulletin 8
This Bulletin covers some common misunderstandings:

  • Relevance of intention in misleading conduct and contract
  • Compensation in relation to misleading conduct
  • Obligations of a recipient of a mistaken deposit
  • Errors in setting loan repayments

Bulletin 7
This Bulletin reports on the results of our recent survey of disputants about referrals of complaints to credit unions’ internal dispute resolution mechanisms (IDR) and from credit unions to CUDRC (the Survey).

Bulletin 6
The purpose of this Bulletin is to set out CUDRC’s approach to the cancellation of direct debit authorities on transaction accounts.

Bulletin 5
This Bulletin discusses the National Privacy Principles and sets out CUDRC’s approach to disputes regarding claimed breaches. The second section of this Bulletin deals with compliance with the credit information obligations that are imposed on credit unions and other financial services providers.

Bulletin 4
In this Bulletin, we discuss Disability and Incapacity issues and an EFT case study. We also outline our role in relation to systemic issues and in cases of serious misconduct.

Bulletin 3
In this Bulletin, we discuss issues in disputes relating to the Centrelink Code and credit reporting and illustrate our approach to resolving disputes about these issues.

Bulletin 2
This Bulletin discusses good industry practice in dealing with members with EFT disputes who are experiencing financial hardship while they wait for financial institutions to investigate their claims.

Bulletin 1
The first Bulletin is on the subject of the Investigation of disputes about unauthorised EFT transactions.