OBSI News

OBSI COVID-19 pandemic update and outlook

Where we are today
Like all our stakeholders, at OBSI we are working hard to continue to deliver our services and fulfill our mandate during the COVID-19 pandemic, and we are closely monitoring the challenges and events affecting our business environment. We are pleased to report that all of our staff are working effectively and efficiently from their homes during the emergency and we have been able to continue to provide our services effectively and without any interruption.

Inquiry and case volumes
Since...

OBSI establishes board position for Consumer Interest Director

Toronto, May 28, 2020 – Today, the Board of Directors for the Ombudsman for Banking Services and Investments (OBSI) approved changes to the organization’s Bylaw to require at least one director to be designated a Consumer Interest Director. A Consumer Interest Director will have a particular interest in, access to, and experience representing the interests of the types of consumers which OBSI serves.

“Given the increasing range and complexity of issues that consumers of financial services face, the...

Consumer tips for resolving a complaint with your bank or firm effectively

During times of economic uncertainty, people often feel stressed about their finances. They spend more time thinking and worrying about money. Many will face unexpected expenses or loss of employment and lose the sense of security they had with their banks or firms. This may lead to concerns about being treated fairly.

We have learned from past experience that consumer complaints go up during difficult financial times. If you think you may have a complaint, read on. This resource shares our tips for...

Tips for resolving client complaints

Recent financial market turmoil has created an exceptionally challenging environment for financial firms and their customers. Past market downturns have demonstrated that in such difficult times, consumer complaints increase, placing an additional strain on firm resources. If history is any guide, you may find your firm dealing with unusual and unexpected complaint volumes. The purpose of this resource is to provide you with information to help your firm resolve these complaints as effectively as...

OBSI's service during COVID-19 pandemic

The coronavirus pandemic is affecting the lives of people across Canada and OBSI is here to help if we can. We created a page on our website with key information for consumers and financial firms who use our service.