Retrieved on:
Wednesday, February 16, 2022
Ombudsman for Banking Services and Investments,
Knowledge,
Fraud,
CEO,
Retail,
Ombudsman,
Complaint,
DIY,
Renewable energy,
Cryptocurrency,
Investment During the year, case volumes reached an all-time high, notably surpassing the previous record set in the aftermath of the global financial crisis.
Key Points:
- During the year, case volumes reached an all-time high, notably surpassing the previous record set in the aftermath of the global financial crisis.
- In 2021, OBSI opened a total of 1,082 cases compared to 791 cases in 2020, representing a 37% year-over-year increase.
- The rise in total case volumes was predominately led by a 55% year-over-year increase in banking service-related cases, which increased from 332 to 514.
- Case volumes relating to service issues saw a 38% year-over-year increase and replaced suitability as the most commonly complained-of issue.
Retrieved on:
Thursday, October 29, 2020
TORONTO, Oct. 29, 2020 /CNW/ -The services of the Ombudsman for Banking Services and Investments (OBSI) are more likely to be accessed by lower- and middle-income Canadians than wealthier Canadians, according to the organization's just released Report on Income and Canadian Financial Consumer Complaints .
Key Points:
- TORONTO, Oct. 29, 2020 /CNW/ -The services of the Ombudsman for Banking Services and Investments (OBSI) are more likely to be accessed by lower- and middle-income Canadians than wealthier Canadians, according to the organization's just released Report on Income and Canadian Financial Consumer Complaints .
- They are less likely to have post-secondary education or participate in the workforce than those who report higher household income.
- The reportexplores the financial services complaint experiences of Canadians at various income levels who used OBSI's service.
- Some of the solutions that OBSI identified in its report include:
Overcoming financial barriers to justice by supporting an accessible and effective financial ombudsman service.
While seniors represent less than a third of the Canadian population, they accounted for 38% of the complaints that OBSI received over a two-year period.
Key Points:
- While seniors represent less than a third of the Canadian population, they accounted for 38% of the complaints that OBSI received over a two-year period.
- Today, OBSI released its first ever Seniors Report , documenting the experiences of seniors using its services.
- The report shows that 38% of complaints to OBSI came from people over the age of 60 and that complaints from seniors are more likely to be made by men than women, especially for married complainants.
- "OBSI has been helping Canadian consumers and financial services firms resolve their disputes for over 23 years," said Sarah Bradley, Ombudsman and Chief Executive Officer, OBSI.
