Residents of the Dubbo Regional Council area with complaints about financial firms have had more than $218,000 in compensation awarded to them in less than a year, a watchdog reports.
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The Australian Financial Complaints Authority has received more than 247 complaints since November from the Dubbo and Wellington districts, it reports.
In its first 11 months it awarded more than $218,970 in compensation to residents of the Dubbo Regional Council area.
Of those, 93 complaints were from residents with Dubbo's 2830 postcode, with $92,400 in compensation awarded.
The authority provided the data as it cited recent research showing fewer than one in every two people with a concern about a financial firm actually lodge a complaint.
It is aiming to help address low awareness of how to resolve a dispute through a national roadshow.
The authority will set up a roaming support centre at Dubbo on November 1 to offer free financial fairness checks and promote its free, fair and independent financial dispute resolution services.
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The authority was launched in November as a one-stop-shop for consumers and small businesses having a dispute with their financial firm about banking, credit, insurance, and superannuation, among other matters.
Dubbo mayor Ben Shields said the arrival of the authority's Financial Fairness Roadshow would give locals an opportunity to receive expert advice.
"This is a great opportunity for Dubbo residents to talk to representatives of AFCA and learn more about how it can help to resolve financial complaints, especially for those who have lodged a complaint with a financial institution and feel that they've been unfairly treated," Cr Shields said.
Chief ombudsman and CEO David Locke said hearing from regional communities would also help the authority improve its own processes and services.
"When people run into an issue with their financial provider, many don't know they can actually make a formal complaint and get it fixed," he said.
"If it's something you've felt strongly enough to complain about to your friends and family, chances are you have a case to pursue."
- The roadshow event will operate from 9am to 5.30pm on November 1 at Dubbo Square.