Canadians with a banking complaint can now direct that complaint to just one place.
And it’s a change the complaints body taking on that responsibility hopes will help will be a “big improvement” for consumers.
Up until Friday, the Ombudsman for Banking Services and Investments (OBSI) was one of two external bodies that complaints would go to. But following a decision by the federal government last year, the OBSI was chosen as the sole complaints body for all banking issues.
“It’s a simpler approach,” Sarah Bradley, ombudsperson and CEO of the OBSI, told Global News. “So everybody has a clear understanding of where to turn if things are not working out for them in their dispute with a bank or a financial services firm.”
John Lawford, special counsel at the Public Interest Advocacy Centre — a group which has fought for better consumer protections — told Global News that the decision was a long time …