Flashback
Enthusiast
- Joined
- Oct 29, 2006
- Posts
- 12,978
After a lengthy conversation with the folk at ACCC after submitting a complaint last week in regards to the changes made and enforced by American Express, things have been escalated to the Banking and Financial Service Ombudsman for investigation.
The positive thing so far to come out of this is confirmation that retrospective changes to advertised Terms & Conditions are not permitted. Which in effect may mean the date of the 20th which various changes were set to, could and may well be changed to the 27th, which was the day they were publically made available.
This can be prosecuted under both state and federal laws, along with breaching elements of the trade practices act.
I would be confident in saying, the legal and marketing departments at Amex, may be getting into a level of panic soon, as they probably expected customers to just play along with the new rules and only go so far as potentially cancelling there account in anger over what has occurred, this wont be the case.
Very interesting file51, I'll continue to follow this and see what the result is, having missed the September 20 deadline by 1 day.