Issue #31: Dispute Resolution with Financial Institutions
Consumers, especially vulnerable senior consumers, have very little power to resolve complaints against their financial institutions.
Recommendation #107: Ombudsman for Banking Services and Investments (OBSI)
Make OBSI the single dispute resolution provider for all banking services and investments in Canada. Provide OBSI with binding authority and a robust systemic mandate. Increase OBSI’s remit from $350,000 to $500,000.
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