News Releases

OBSI case volumes reach all-time high in 2021

Toronto, February 16, 2022 – The Ombudsman for Banking Services and Investments (OBSI) has released its year-end complaint volume figures for 2021.

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...

BC credit unions and their members gain access to OBSI’s services

Toronto, January 20, 2022 – With the start of the new year, the Ombudsman for Banking Services and Investments (OBSI) welcomed credit unions from across British Columbia as participating firms, joining Alberta and Saskatchewan credit unions who have offered OBSI services to their members since the mid-2000s.

“We are pleased to have this opportunity to work with BC credit unions and their members, and to play an important role in helping them to resolve issues and move constructively past any disputes...

OBSI Launches New Five-Year Strategic Plan

Toronto, January 11, 2022 – Canada’s Ombudsman for Banking Services and Investments (OBSI) has released its 2022–2026 Strategic Plan.

“Our last strategic plan was a guide to keep us focused on important modernization activities and help us evolve as a resilient, efficient organization. Looking ahead, as we continue to weather the impacts of the COVID-19 pandemic, we see further opportunities to provide value to the consumers, firms, and regulators we work with,” said Sarah Bradley, Ombudsman and...

Maureen Jensen joins OBSI Board to become next Chair

Toronto, September 23, 2021 – OBSI’s Board of Directors is pleased to announce the appointment of Maureen Jensen to the board effective immediately. Ms. Jensen has also been selected to be nominated as the next Chair of OBSI’s Board of Directors at the next Annual General Meeting of the organization to be held in March 2022. Ms. Jensen will succeed Jim Emmerton, whose term as Chair will be coming to an end following 12 years of service.

Ms. Jensen has been a leader in the investment industry...

OBSI 2020 Annual Report released: consumer complaints increase in 2020

Toronto, April 29, 2021 – The Ombudsman for Banking Services and Investments (OBSI) has released its Annual Report for 2020.

“The challenges of 2020 were unprecedented for OBSI, as they were for people and organizations around the world, in the wake of the COVID-19 pandemic,” said Sarah Bradley, Ombudsman and CEO, “and I am proud of the outstanding performance of our organization through this difficult period. Our work for the year has taken place in the context of two overarching external challenges:...