Overview
- Choice published its 2025 Shonky awards on 4 November, naming Commonwealth Bank, Temu, HCF, energy retailers and the Handy Heater Turbo 800.
- ASIC found major banks overcharged eligible low‑income customers; CBA’s 2.2 million customers paid $270 million, with the bank opting for case‑by‑case refunds, pausing some concession fees and citing $25 million in goodwill payments to about 87,000 accounts.
- Choice testing reported Temu items breaching button‑battery rules, and a 2024 hoodie that burned an eight‑year‑old was later recalled; Temu has not joined the voluntary safety pledge and says it removes non‑compliant listings.
- HCF was accused of closing its Premium Gold policy and launching a near‑identical Optimal Gold product at a 34.6% higher price; the fund says the change applied to new sales and complied with regulations.
- Choice also criticised energy retailers for same‑name plan tactics estimated to obscure about $65 million in annual savings, and flagged the Handy Heater Turbo 800 as unsafe and non‑compliant.