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Company: Ombudsman for Banking Services and Investments

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Concept of businessman with good work ethic.

Binding authority once again recommended for banks' dispute-resolution system

African businessman holding letter reading bad bank news about debt

It remains up to regulators to act on long-standing recommendation

Financial technology business investment concept illustration with data computer background

Budget promises examination of digitalization, single complaint-handling body

announcement

Deputy chief economist Dawn Desjardins announced her retirement from RBC, while other industry veterans emerged in new roles

  • By: Katie Keir
  • March 18, 2022 March 18, 2022
  • 12:59
Canadian Parliament Building at Dusk

Consumer groups call on Freeland to designate OBSI as binding bank ombud

Smartphone with finance and market icons and symbols concept

Service issues overtook suitability as top concern, OBSI reports

changes ahead sign

Promises for action on OBSI have repeatedly gone unmet, however

advisor-client meeting

The FCA is reviewing its consumer compensation scheme, which is under stress from past misconduct

Horn speaker for public relations sign symbol, vintage color - sun with blue sky

Jensen joined OBSI's board and is tapped to be the next chair

business people standing in line under a magnifying glass

OBSI’s Joint Regulators Committee said client compensation has fallen $1.3 million short of the recommended payout over three years